College Counterpoints for March 1, 2024
In this episode of College Counterpoints, Gary Stocker and Joseph Pellerito Jr. discuss various topics related to higher education. Here is a summary of the key points:
- Notre Dame College Closure: Notre Dame College has announced its closure, following a pattern of smaller private colleges facing financial challenges. The hosts discuss the likelihood of more closures in the future, emphasizing the need for colleges to adopt best practices in managing downward enrollments and preparing students for such situations.
- College Viability App: The hosts mention using a "College Viability App" to analyze data on Notre Dame College and similar institutions, highlighting the financial and enrollment challenges faced by many private non-profit colleges. They express concerns about the potential loss of diversity and choice in higher education if more colleges follow a similar path.
- Competition and Innovation: The hosts discuss the concept of colleges engaging in unfriendly mergers or acquisitions similar to business practices seen in companies like Amazon. They debate the impact of such practices on higher education, with Gary expressing concern about the potential loss of diversity and Joseph emphasizing the need for innovation and collaboration.
- FAFSA Delays: The hosts address the delays in the Free Application for Federal Student Aid (FAFSA) and the innovative approaches some colleges, like St. Louis University, are taking to work around the delay. They discuss the need for an overhaul of the financial aid system in higher education.
- Financial Aid Innovation: Gary praises Mark Salisbury from tuitionfit.org for predicting that colleges would find ways to offer financial aid without relying solely on FAFSA. Joseph highlights the challenges of the current financial aid system and suggests the need for a comprehensive revamping.
- Upper Iowa University's Enrollment Deposit Offer: The hosts discuss Upper Iowa University's promotional offer, allowing students to make an enrollment deposit of one dollar until March 15th. While Gary sees some minimal credit for innovation, Joseph strongly criticizes the move, calling it a bait-and-switch tactic and emphasizing the need for transparency in college pricing.
