Saturday, September 10, 2022

Small Colleges Are Struggling. Will They Survive? - Kathleen Lynn, Patricia Alex, NJ Monthly

Small private colleges and universities in New Jersey—and around the nation—are facing reduced resources and other challenges in a changing landscape. Montclair State University has thrown a multimillion-dollar lifeline to Bloomfield College, agreeing to provide financial support for the struggling private school to stay open during the 2022-2023 school year as the schools hash out the details of a more permanent arrangement that could include a merger. In June, Rider University in Lawrenceville announced deep program cuts and layoffs to address a $20 million deficit after an earlier plan to sell its venerable Westminster Choir College fell apart.  These are tough times for some small private colleges and universities in New Jersey and around the nation.