Growing number of small colleges close amid financial woes 

0:15 If your college has 700 faculty members and only 1100 students, it's not going to last very long. That 700 figure probably doesn't include the administration or staff either.

Maybe part of the problem was having 700 faculty members and only 1100 students.

Why does a university have 1100 students and 700 faculty??? It's no wonder it costs so much!

Can a college with 700+ employees really be called "small"?

Now stop the student loans and see what happens😂😂😂😂😂

Actually, the reason why UArts is closing is a potentially more illagal reason. Last year they effortlessly raised 63 million dollars, and if they had called on donors for fund raising im sure they could have gotten the money. They secretly held the information that the school was closing because of misfiling an accreditation report to the Mid Atlantic Region Commission of Higher Education. Didn’t help that 2 percent of the school endowment went toward playing the college president, which the previous one made 800k a year at one point. The board of trustees and president had made horrific decisions that ultimately killed the school. Also plenty of prime real estate on Broad Street and Rittenhouse Square almost completely unused. While yes the economy is also a complete disaster, there was a path for UArts to survive. I wish this video had better journalistic integrity. - a UArts alum

If you're an artist, spend your youth saving money and creating art. You can learn whatever you need to learn online.

"Paying tenure" to professors . . . what is that man talking about.

College is overrated.

It’s hard to have an endowment from theater major alumni that work at Denny’s.

The only purpose of colleges and universities now is sports entertainment.

Who the hell is going for liberal arts in this economy?

1100 students with 700 faculty ??

Students have wised up to not having massive debt. I wouldn’t spend $60,000 a year for the same education I can get at my local university for $15,000 a year.

It’s a difficult situation. Colleges were founded on the basis of passing down worldly knowledge/intelligence and the humanities were the backbone. We have to balance career oriented majors, but at the same time working in the humanities somehow. Otherwise certain knowledge can be lost or become a rare skill leading to less advancement as a whole

People are not wasting money on arts useless degrees anymore. Young people see how they end up with a lot of debit and no skills.

I graduated with a ba in geography. The first thing I knew something wasn't right was when the professors told us we needed to take prerequisite courses because employers were complaining that students graduating from college didn't know anything. This is insulting to the high school teachers, along with those who just graduated from high school. As if they didn't have any books to read to learn things about the world back then. I knew this had to be a lie because I never heard of this problem outside of a university or college. Also why is it that no one ever asks what you learned outside whatever your major is. When I graduated nobody ever asked me what I learned from anything I took in my major or my prerequisite courses. When I started working for different companies in the office field, they taught me what I needed to know within a few hours or up to a week. I did not need what I learned in a university. I did not need it for the work I was doing. So I basically wasted four years. It was about twelve hundred to sixteen hundred a semester back then to attend a university when I went. It is likely about ten thousand right now. The professors are not smarter then you. Do not put them on some higher level as if they know more then you ever will. They are just as flawed as your average human. Had I invested in technology stocks back then rather then putting it in a university, I would have been far better off then I could ever imagine today. I was lucky to just pay my loans also, rather then relying on student loans. That is another subject that is never discussed in the news media in regard to why they won't pay us back, for those that did not rely on student loans. It was just as hard for us to pay immediately then those who paid on a student loan also.

The end of for profit colleges

A lot of degrees are worthless heck even certifications are almost worthless. I could just stay at my factory for 14 more years and be at 41 an hour or get a degree and stay at 80k a year or learn a trade with no debt for 80-100k. I’ll be upping my education but only because my factory has tuition reimbursement but no degree would make me a better operator only experience will make me better at my job and most jobs experience trumps education.

The benefit of a 4 year college degree has been oversold for 3 decades. And generous amounts of Student Loans added fuel to the fire. The market was slow to detect the problem, but it's working now.

There is substantive research on creative thinking and entrepreurship. A dynamic person could recreate UArts,deal with finial literacy needed and transform this gem of a school to new glory. When I worked there,the creative energy and expression was thrilling,from dance to music to illustration to ceramics to industrial design. So many possibilities.

10k, 20k, 50k, 100k for art history isnt going to last long

This is bigger than just "Liberal Arts" colleges and universities. Higher education is pricing itself out of existence. Tuition has risen at TWICE the level of inflation for years. Plus there is now a smaller pool of potential students to compete for. The smallest and weakest will fail first. Small colleges and universities have been permanently closing their doors for the last few years. Look for this to increase, and continue. I predicted this over a decade ago.

Its called market correction

1100 students and700 staff wonder why they are closing

Pay attention to how he’s placing emphasis on how their portfolio is set up and understand that school is a business..

Our culture is now going to be denied the artistry of future arm-flailing dance department graduates from this institution. What a loss!

University of the Arts 🤐🤐🤐. Great job opportunities afterwards..choose flipping burgers, barista or work in a bookstore.

Closing down some colleges is not a bad thing. Our society is over-saturated with college-educated professionals. Need more tradesmen and retail workers. But we also need to start laying down legwork for making retail viable careers.

1:48 "Even English and History...ain't what they used to be." Yes, excellent analysis.

When you treat college as a business and not as a human right and expect people to spend thousands of dollars when there’s no guaranteed of a job, that’s what you get

Savagely true. Unless and until these schools are more reasonably funded by somebody-or consistently enroll a minimum of students each year, not opening the enrollment up to everyone who can pay the bill, and cut back the unfortunate grip on academic departments by administrators, small colleges will be closing prematurely, and throwing their students loose.

Yes, a democratic society needs art and people to study and make art. But it first needs to make education AFFORDABLE, i.e. we need to democratize education. After all, what does it matter if these kids can't go to school to study art or biology or whatever--if they can't afford to go there in the first place? In fact, this is the reason many students feel compelled to go into more 'practical' pursuits like business or accounting--because they're gonna have to pay off huge loans.

This is a bunch of bullocks. Who decided to let this guy speak on the arts. Any degree in the arts is a PROFESSIONAL degree. People major in the arts TO get a job. NO ONE is guaranteed a job when they graduate college.

It's the ROI.

Sad but a college education is becoming obsolete in many occupations. Too many fluff classes in art and humanities extend the length of a college degree and the price of the degree unnecessarily.

Thus only the rich and powerful can think, while the rest of us do. When those in positions of power think for everyone else, our democratic society won't last much longer.

The watering down of humanities and literature away from the classical philosophical basis for a critical thinking based education has created false expectations among the prospective students. This shift towards emotive foundations that are intertwined with many modern educational institutions leave students unprepared to effectively engage in a modern society and workforce. These institutions accepted modern feel good ideas which don’t increase a persons ability to think critically, thus diminishing their ability to logically understand the problems that face contemporary society and therefore leaves many unprepared to address the challenges the world faces.

Welcome to the real world, kids. I hear Starbucks is hiring.

Very sad.

Daycare's are expensive!

Good riddance to 700 Faculty for 1100 students. That's like 700 construction managers for 1100 labourers

Come on…..you got “ivy” league schools with huge endowments that need a spanking anyway. Why can’t these schools have a slice of endowment?

I heard some community colleges will close sometime in the next few years and some public schools as well, government funding is drying up. I see a not too far future with no public schools, only private and homeschooling. Now, 2024, almost 70% of Americans make less than $70,000 a year, that does not buy what it did just 2 years ago. 1 child from beginning of pregnancy to college right now cost $1,000,000 to raise.

Don't see how when tuition is the highest it's ever been....

What a shame. Indoctrination centers are closing. 😢

0:47 that's what she said.

Critically think about going broke feed your own soul i rather feed my stomach

Proves my point I have been saying for years...ALL COLLEGES ARE FOR PROFIT!

GOOD!

lmfao imagine complaining about how people want jobs after going to college?

700 faculty members with ONLY 1100 students? Who would've guessed it wasn't financially viable

Small schools need to consolidate and streamline and learn how to leverage technology of MOC-giant online courses which small schools can utilize. No more “for everyone a major.”

Arts degrees are useless. Gov should issue a warning to all students who are taking on debt to study art in colleges. STEM is need of the nation.

Liberal arts education was already under siege the past decade. 2020-2021 it was practically worthless with the covid restrictions. It’s a liability for people looking to do STEM/medicine/law. It’s just not great

Oh my god??!?!?

I can’t imagine all those sexuality/gender studies degrees not paying off

Long overdue.

Go woke go broke

Demographic problem.

700 faculty members for 1,100 students in a liberal arts school! The school should’ve closed sooner! What a joke colleges are now. Used to be 30-40 students taught by one professor!

like any business if the product they were providing was worth the investment they would still be open.

The instructor-centric academic model is old, obsolete, and not sustainable. People are opting for alternatives that entirely circumvent traditional academia.

Art is important I. Society, but an ART DEGREE is NOT REQUIRED to create art

Colleges and universities were a waste of time and money, just learn at a job 🎉😂😂😂

I'll be honest, they don't really teach anything. Most of the time the professors don't even really work there. You know it's like a temp professor. Lol. Then they go to multiple classes. Then the classes have like 50 students..... Then there's no time to teach tf. It's kind of a waste of money.

What this reporting misses is that even with non-liberal arts degrees you still think critically. Engineers, plumbers, business people, etc need to think critically all the time so they can achieve goals of a project or company. It’s probably a different kind of critical thinking than what liberal arts colleges are used to. But loss of these colleges won’t doom our country to a thoughtless population

What’s the 🇺🇸 #1 asset? Student loan debt 💸… you will have nothing & be happy 🎉

Good job on CBS covering this and asking relevant questions. But no surprise this is happening. Market conditions should help explain why this is happening. Colleges, let alone art colleges, are experiencing low admissions/enrollment because costs are high and job prospects low. Not to mention, quality of this overpriced education is put to shame by online resources like youtube, udemy, etc. which is why taxpayers should be vigilant over the next decade or more about colleges lowering admission standards to enroll anyone they can and also on the government for pushing out student loans on all those incoming students that'll probably be forgiven putting the burden on taxpayers as always. The root of the problem should be addressed and thats jobs. The elephant in the room for society is, are there sufficient number of high paying jobs for everyone? Lol, media loves to cover stock market like dow and nasdaq like its anything meaningful to economy but they should instead, track meangingul, essential, high paying, low turnover jobs indexes.

Defund federal loan programs

This is a crisis of will in this country. This is why most developed nations subsidize or have free to the student higher education. Powerful interests want our kids to remain dumb cheap labor.

Being able to speak and write intelligently is overrated.

The advice that he gives is terrible and is by no means a universal playbook to success for small colleges. "Hide" your students studying history and English?? How embarrassing! We're actually teaching our students something of value. Lots of people are able to major in english, philosophy, and history and go on to have success in the job market or in graduate school. "Paying tenure"? Clearly this guy has lost the plot.

Good

Get work gloves no more easy street

All that lost knowledge 💁🏻‍♀️

whoever these days still gets a music, history liberal arts etc degree is lol

Actually this is a win-win for everyone. Students need to fully consider pursuing a major that will actually provide employment and a living wage going forward. Society doesn't need graduates with degrees that don't contribute anything to the masses.

Wow it’s an epidemic at this point

That guy is out of his mind. No one ever thought of higher Ed as a place you go just for intellectual stimulation. It's only ever been seen as a career decision, even going back to my parent's time. This guy's argument is literally "if 18 year olds aren't going five or six figures into debt, where will they learn to think critically?"

They are all going to close....

It is actually very sad that economics are making it impossible for people to pursue arts and liberal arts education and those schools are closing. Many great schools are going to disappear because they don't train people for jobs. Our whole intellectual culture is going kaput.

College in my view is indeed needed for work and job training unless you are lucky. Art is not needed for the average person of regular means. It doesn't put food on the table. Working in a STEM field, or other profession for higher salary work is what college is now. Job training you pay for and go into debt for yourself.

Free thinkers don't have to pay someone else's living to be able to think. They do it all by themselves...for free.

lower your tuition prices..problem solved

Moving back to mommy's

Wow thts crazy they r closing! So sad I mean I get college isn’t for everyone these days but man… tht sucks. Alumni should be helping!!!

dont expect to be getting paid a decent pay. no worthless student loan forgiveness, have to way your there way on up. time is not on there side. ai does just everything.

I hope Zak isnt just another pretty face newsreader. Maybe this will help. Try researching some demographics: for the next 15 years fewer and fewer kids will be turning 16 (births peaked in 2008 and have been dropping ever since.) A whole LOT of education at all levels is gonna be shutting down. What are we gonna have a lot of instead? 50 year olds. Baby bust hit its low point in 1973. More and more people will turn 50 every year for the next 30 years.

Bidenomics in full effect…. Zach is really awkward or trying too hard

Who wants school

one of the first things Trump did when he became President was cut funding for Arts, public radio, food stamps, and putting a pipe line right through sacred Native American land... I really despise him for that....

lol good 😂😂😂😂

okay but does truth and artistic expression pay the bills for you average person?

Is that guy a bot….his delivery is just stilted

University of the arts is most popular amongst people that know the art of shoveling fries at McDonald’s! 😂

Fake jobs

“ Feed the Soul “ excuse me but the souls feeds us. Art feeds the feelings and also the ego.

Scams!

Lll