December 26, 2016

St. Louis University Going Broke from Political Correctness

Timothy Birdnow

Saint Louis University is in big trouble.
http://www.bizjournals.com/stlouis/news/2016/10/07/a-crisis-coming-at-slu.html

"Without big changes, Saint Louis University is in big trouble.

The private Jesuit school in Midtown is projecting annual deficits of $10 million to $20 million through 2018 and beyond. Revenue declined 4 percent from 2012 to a 2015 total of $410 million, while costs increased 7 percent to $415 million in 2015. Full-time-equivalent enrollment is falling and stood at 11,500 in 2015, 743 fewer than in 2012. The scholarships and grants it gives to students have increased to 34 percent of tuition and fees, up from 27 percent in 2010. Federal research grants have dropped to $29 million from $40 million in 2012. Twenty percent of full-time faculty teach fewer than 100 credit hours per year. About 25 percent of academic departments don’t cover their costs.

Saint Louis University is projecting annual deficits of $10 million to $20 million through 2018 and beyond if measures aren't implemented.

In addition, net tuition has been flat, as increases have been offset by declining enrollment and increases in aid provided. And while the university has submitted 7 percent more private and federal grant applications, its success rate has dropped from 73 percent to 54 percent since 2011.

"Revenue has declined due to many interwoven factors, including enrollment, tuition discounting, external grant funding, and donations. But there has not been a corresponding reduction in costs,” a report from the university said. "Before we face a crisis, we must change.”

End excerpt.

Wanna bet the primary problem is that alumni have stopped donating? I am fairly confident this is a function of the radicalization of SLU under President Fred Pistello. He invited the Black Lives Matter radicals to seize the SLU campus, then created a plethora of new, expensive programs as part of the "clocktower accord" to end the "crisis" he created. To add insult to injury he commissioned a statue be built to honor the occupiers, and removed a statue of Fr. DeSmet to make room for the brave new heroes.

Frankly, I hope the university gets into big trouble; then perhaps the idiots on the board of trustees who gave Pistello his job may have to find someone more prudent and in line with Catholic values.

Posted by: Timothy Birdnow at 12:36 PM | No Comments | Add Comment
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