After closure announcement, St. Joseph's alumni consider ways to save school
- Alumni of St. Joseph's College say they were blindsided by news that news that college trustees planned to close the school at the conclusion of the academic year, and they are forging ahead with fundraising plans to try and save it.
- The college has attempted to lease land on the campus to the Mayo Clinic, but the agreement will yield less than college leaders anticipated, according to reporting by Inside Higher Ed. Alumni will attempt to close a gap which some officials have estimated at greater than $100 million and which annually produces a $4 million deficit.
- The Chicago Tribune reports on the continuing differences between graduates and administration, which have differing stories on how clear the college's financial troubles had grown over the last five years.
St. Joseph's, Sweet Briar College and other schools often face criticism for a lack of transparency about financial outlook of institutions when the decision for closure or suspension is made. But college leaders are typically transparent with the numbers in the way of annual reports, accreditation updates (which are frequently required to be posted by agencies on university websites) and in hiring or resource preservation practices.
College leaders have to do a more effective job to balance informing stakeholders without shouting to the world the intimate details of financial struggle. This may require focus groups with regional alumni chapters, more specific data to be posted online, and direct appeal for corporate partners to meet with these stakeholders.
- Chicago Tribune St. Joseph's College alumni try to save their alma mater
- Inside Higher Ed A cash crisis and collapse