Howard University Faces Dire Financial Hardship
- 11 years ago
According to a letter written by a member of the board of trustees, Howard University could be forced to close within 3 years. The reasons included declining enrollment, overstaffing, and subpar fundraising.
According to a letter written by a member of the board of trustees, historic Howard University could be forced to close within 3 years.
The author of the letter, Renee Higginbotham-Brooks, feels that due to financial duress and mismanagement there is little hope if massive change doesn’t occur.
She cited several specific causes for what she feels is a dire situation. They included declining enrollment, overstaffing, and subpar fundraising.
Board of Trustees Chairman Addison Barry Rand responded by saying that her statements lacked context.
He also pointed out that despite larger economic realities, the budget has been balanced for the past three years and the endowments have been replenished.
Whatever problems Howard University has been or still is facing, they’re not alone. Nationwide, many institutions of higher education are in deep trouble.
One third of US colleges and universities are on a rocky financial path and aren’t expected to have smoother travels in their futures.
Of the over 4000 higher education schools in the country, only about 500 of them are considered to be financially safe, and a handful of colleges have closed, merged, or been bought.
According to a letter written by a member of the board of trustees, historic Howard University could be forced to close within 3 years.
The author of the letter, Renee Higginbotham-Brooks, feels that due to financial duress and mismanagement there is little hope if massive change doesn’t occur.
She cited several specific causes for what she feels is a dire situation. They included declining enrollment, overstaffing, and subpar fundraising.
Board of Trustees Chairman Addison Barry Rand responded by saying that her statements lacked context.
He also pointed out that despite larger economic realities, the budget has been balanced for the past three years and the endowments have been replenished.
Whatever problems Howard University has been or still is facing, they’re not alone. Nationwide, many institutions of higher education are in deep trouble.
One third of US colleges and universities are on a rocky financial path and aren’t expected to have smoother travels in their futures.
Of the over 4000 higher education schools in the country, only about 500 of them are considered to be financially safe, and a handful of colleges have closed, merged, or been bought.