Brown University Faces Stunning $46 Million Deficit
“Faculty growth has outpaced student enrollment growth”
How is this even possible? The school has a massive endowment but they can’t even rely on that at this point.
The College Fix reports:
Brown University faces $46 million deficit
Brown University is facing a $46 million deficit that could grow to $90 million, according to a recent announcement.
The deficit could “deepen significantly” according to an announcement from the Providence, Rhode Island university.
While the university has an endowment, it is already tapping it as much as reasonable.
The school announced the reasons for the deficit problems:
These include nearly flat net revenue from undergraduate tuition growth due to a steady size of the undergraduate student body, downward pressure on tuition increases, and increased financial aid; the macroeconomic factors of unexpected high inflation, growth in salaries and benefits, and national trends toward unionization; and rapid growth in faculty and staff positions coming out of the COVID-19 pandemic, with staff growth outpacing growth in faculty. We are also at the upper limit of the fiscally responsible range for taking contributions from the Brown endowment without reducing future resources available for financial aid, academic support and other priorities.
The university said it would “hold faculty headcount growth to 1%” and freeze staff growth. Brown also plans to bring in more money from its master’s programs by “ultimately doubling the number of residential master’s students and increasing online learners to 2,000 in five years.”
Faculty growth has outpaced student enrollment growth, according to The Brown Daily Herald.
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Comments
Review a year’s worth of LI headlines with “Brown” in them. They’re on the spite-their-face loony side of every one of them. How could this NOT happen? The only astonishment stems from how soon the consequences manifested.
Hey, it’s Rhode Island. I’m sure the local godfathers have some slush fund that can be used to bail them out.
Brown University faces $46 million deficit
Schaudenfreude
Bloated bureaucracy is what they mean when “growth in staff outpaced growth in faculty”. Hired a bunch of people that do not contribute to the core mission. Like all lefties. They can spend to oblivion
I kept coming back to that – staff growth outpaces faculty growth, and faculty growth outpaces student enrollment. Am I missing something here? It seems like the reasonable answer to their problem would be to QUIT HIRING MORE FACULTY AND STAFF until there is an actual need for them.
Some people are so smart they’re stupid.
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We will see many more such stories out of higher education. College and university faculties and staffs don’t represent the best and brightest among us. Their skills and intellect pale in comparison even to known concentrations of incompetents as the press and Congress. Even a short discussion with one of these people (and there are exceptions to prove the rule) will show that they have little practical experience and know no one who does. Their institutions face a bad market and college leaders lack the knowledge, skills and intellect to cope it.
Let’s hope Cornell is next. Will wake them up and hopefully cause them to fire every stupid DEI bureaucrat.
Ain’t no bigger fool than an educated fool.
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