Thursday, January 5, 2017

Valuable Insights from those Involved with Closing Colleges

Rick Seltzer's article for Inside Higher Ed, "Closing Out a College," provides a detailed and valuable look at several institutions and the difficulties their trustees and staff faced as they prepared for closure.  Seltzer focused on three institutions.  Two have closed, Virginia Intermont College and Dowling College.  And while the details of the near closure and rebirth of the third institution have been widely covered, I appreciated the insights of Dr. Phillip Stone, Sweet Briar's president, as he reflected on their unique situation.  
The article's comment section also included several important notes clarifying why struggling independent colleges are no longer able to reorganize using the bankruptcy protection of the courts.  Michael Goldstein included a link to an article, "Bankruptcy Benefits," that he co-authored on the topic for the September / October 2016 issue of AGB's Trusteeship magazine.