Dorrance Hamilton Hall at The University of the Arts, Philadelphia, which ceased operations earlier this month. Credit: Ajay Suresh via Wikimedia Commons Staring Down 'Enrollment Cliff,' Troutman Pepper Team Devises Strategy to Keep Schools Open
The University of the Arts isn't the first small college to land in financial peril, and more schools are likely to find themselves in a crunch in the coming years.
June 27, 2024 at 04:52 PM
6 minute read
Education
What You Need to Know
- Smaller universities are facing down an 'enrollment cliff,' putting their futures in jeopardy as enrollments and tuition income decline.
- When higher education institutions close, stakeholders tend to seek out monetary damages from those schools, further compounding the financial troubles that led the institutions to close in the first place.
- One firm is taking a different approach, leveraging attorney general interest and charitable solicitations laws to help schools stay open rather than sue them into irrelevancy.
There are a lot of feelings involved when a university announces its imminent closure; even more so when faculty, staff and students hear the news through the media rather than a direct announcement from school leadership, and exponentially more so when the news leaks a week before the closure is set to go into effect.
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