The trustees at Johnson C. Smith University in Charlotte have announced a series of steps aimed at improving the financial stability of the institution. Enrollments at the university have dropped from 1,801 a year ago to 1,387 this fall due to changes in eligibility for federal Parent PLUS loans and other financial factors. About 85 percent of students at the university receive some type of federal financial aid.
In a statement the university said, “the rightsizing measures include freezing or eliminating vacant staff positions, strengthening the platform used to purchase goods and services, conducting a feasibility study to identify additional opportunities for outsourcing, implementing an unpaid furlough for staff, and a layoff of 21 employees.” No faculty members lost their jobs.
Ronald L. Carter, president of Johnson C. Smith University, stated, “Making the decision to reduce the workforce was not an easy one, and it was not our first option.” President Carter noted that one staff member who was let go told him, “if losing my job will allow the university to keep even one student in school, then this is the right thing to do.”
“These are proactive measures to keep us away from financial trouble while promoting a focused approach to enrollment growth,” President Carter stated. “I feel confident that the steps we are taking today will place the university on stronger footing in the future to assist our students in closing the gap of their financial obligations to the university.”
Seemingly, HBCUs are rightsizing… Wonder if Walden, Liberty, Phoenix, etc…are doing the same. Wonder if HBCUs had just a fraction of their students—how would this impact attendance/revenue…I just wonder…?