Mary and I spent 2024 answering questions students and their families have about their college decisions. We discussed everything from majors to financial health.

From now until Mary finishes here Finance and Marketing double major at Lindenwood University (MO), we are going to journey with her..

In this episode, Mary shared what it is like to make a college decision as a student-athlete and more.

In future episodes, Mary will update us on her final semester of study along with preparations for her job search.

In this episode of the Beyond the College Brochure podcast, Mary McGrath and Dr. Gary Stocker discuss the current trends in college closures, the importance of evaluating a college's financial health, and how students and families can make informed decisions during the college admissions process. They emphasize the need for transparency regarding enrollment trends and financial stability, and provide resources for comparing colleges effectively. The conversation also touches on the impact of financial instability on college programs and athletics, and offers advice for prospective students navigating the higher education landscape.

Takeaways

• There has been a significant trend of college closures recently.
• Families should be cautious about the financial health of colleges.
• Admissions reps may not disclose financial issues of colleges.
• Georgetown University provides a useful ROI ranking for colleges.
• The College Viability app is a valuable tool for comparisons.
• Colleges are more eager to enroll students than vice versa.
• Enrollment trends are crucial for assessing college stability.
• Advertising enrollment rates can be misleading.
• Graduating from college is essential for job market success.
• Higher education offers unique learning and personal growth opportunities.

Here are the questions Mary has for Dr. Stocker this week.

1. What has been the trend of college closures in recent years?
2. What should students and families know about the college admissions process in light of current trends?
3. Is there a way to evaluate the potential return on investment for a certain college?
4. How can student and families effectively compare multiple colleges to make an informed decision?
5. What does the process look like after a college application is submitted?
6. Does financial instability have an impact on a school’s athletics program?
7. How do declining enrollment numbers affect a college's stability?
8. What advice do you have for families who are anxious about the future of higher education?

Mary McGrath, college senior, and Gary Stocker, founder of College Viability move their show to video. Beyond the (College) Brochure is a show about colleges finances dedicated to students and their families.

Mary asks questions from the perspective of a student and their family.

Watch this episode to hear:
+ What factors contribute to a college’s financial stability?
+ Does the financial instability of a college have a negative effect on its reputation?
+ What role do state and federal funding play in the stability of public colleges?
+ Are there specific types of colleges or programs that are more likely to experience financial troubles/ a closure?
+ How do declining enrollment numbers impact a college’s finances?
+ Are there specific strategies that colleges can implement to prevent closures?
+ What steps does the college take to ensure that students can complete their degrees in the event of program changes or closures?
+ What lessons can be learned from recent college closures?

Here are Mary's 8 questions for Dr. Stocker this week. Remember, these questions come from college student and are asked from the perspective of a college student and their family.

1. What would you say to the students and families who are concerned about the ability to transfer credits if their college is facing financial issues?
2. Which college ranking publication is the best?
3. Are college admission essays a big deal?
4. What is tuitionfit.org?
5. Is it common for colleges to mislead students and families with the “sticker price” of the school?
6. What factors might influence a college’s decision to increase/decrease its tuition?
7. What’s your #1 piece of advice for a high school student just beginning the college decision process?
8. How can students and families trust that the information a college is giving them is correct?

Do you want to learn more about the financial health of colleges? Go to the College Viability web site.

00:00
Introduction to College Financial Concerns

03:24
Navigating College Credit Transfers

06:05
The Value of College Rankings

08:18
Understanding Tuition Pricing and Discounts

12:12
Advice for High School Students on College Decisions

15:59
Conclusion and Resources for Families

If you are a college student, family member or even college faculty, college senior Mary McGrath asks questions about the financial health of colleges on your behalf. She washes away all of the ancient beliefs offered by college counselors, admissions representatives and college marketing groups. Her questions are based on research she has done to get at the hear of the financial health challenges many private and public colleges face in this hyper-competitive and shrinking market.

Summary In this episode, Mary McGrath and Gary Stocker discuss the financial instability of colleges and its impact on reputation, alumni, and faculty. They highlight the importance of using tools like the College Viability App to assess the financial health of colleges before making decisions. They also discuss the annual revision of tuition and financial aid offerings, the lack of support systems for faculty and staff in the event of sudden college closures, and the differences between attending private and public institutions. The episode concludes with a discussion on the characteristics that distinguish higher-level institutions.

Here are the question Mary has for Gary Stocker (founder of College Viability) this week.

1. Does the financial instability of a college have a negative effect on its reputation?
2. (Following up) Can it have an effect on recent alumni when they are out looking for a job?
3. How often does a college revise its tuition and financial aid offerings?
4. Are there specific support systems in place for faculty and staff in the event of a sudden college closure?
5. Is there a specific amount of time that institutions are required to give students and faculty before officially closing?
6. What’s the biggest pro and biggest con to attending a private institution rather than a public one?
7. Are faculty and staff more informed about the state of college’s financial situation than students and prospective students?
8. What are the primary characteristics that distinguish a “higher level” institution?

Takeaways

• The financial instability of a college can have a negative impact on its reputation, but this usually happens after news stories or cutbacks are announced.
• Using tools like the College Viability App can help students and families assess the financial health and viability of colleges before making decisions.
• Colleges often revise their tuition and financial aid offerings annually, but many also offer tuition discounts to offset the increases.
• In the event of a sudden college closure, there are usually no specific support systems in place for faculty and staff.
• Attending a private institution may have pros such as alumni networks, but public institutions often have more college sports opportunities.
• Faculty and staff are usually more informed about a college's financial situation than students and families.
• Higher-level institutions are often distinguished by factors such as endowment size, rankings, and the ability to sell their product rather than buy studen

Chapters

00:00 Introduction

01:53 Using the College Viability App to Assess College Financial Health

05:33 Faculty and Staff Awareness of College Financial Situation

08:14 Pros and Cons of Attending Private Institutions

09:40 Distinguishing Higher Level Institutions

12:28 Conclusion

Mary has these questions from students and their families for this week's episode of 'Beyond the (College) Brochure'.

1. What would you say to the students and families who are concerned about the ability to transfer credits if their college is facing financial issues?

2. Does the quality of education decline if experienced faculty and staff are laid off due to financial trouble?

3. Are there more likely to be limited resources at a school in financial distress vs. one that is not?

4. Do budget cuts have an effect on the campus safety measures at a school?

5. Do financial aid opportunities, such as scholarships and grants, decrease when a school is in financial trouble?

6. What is the broader impact on the community if a local college were to close its doors?

7. How do colleges balance tuition increases with the need to remain affordable for students and families?

8. What steps does the college take to ensure that students can complete their degrees in the event of program changes or closures?

Summary

In this episode, Mary McGrath and Dr. Gary Stocker discuss the financial health of colleges and the potential impact on students and families. They address concerns about transferring credits, the quality of education, limited resources, campus safety, financial aid opportunities, the impact on local communities, tuition increases, and college closures. They also discuss the steps colleges take to ensure students can complete their degrees in the event of closure.

Takeaways

• Get ahead of potential financial issues at your college by exploring transfer options and comparing how many transfer credits each college will accept.
• Colleges facing financial trouble may have limited resources, which can impact the quality of education and campus safety measures.
• Financial aid opportunities such as scholarships and grants may decrease at colleges in financial distress.
• The closure of a local college can have a significant impact on the community's economy and cultural assets.
• Colleges often raise tuition but also increase tuition discounts to attract students, which can strain their financial health.
• Colleges that are at risk of closing may offer teach-out opportunities for students to complete their degrees, but there is a risk of transferring to another financially troubled college.

Sound Bites

• "Get ahead of it...get out, get ahead."
• "Colleges need students, a lot more than students need any individual college."
• "Get that college education in four years. Get on with it, make some money, and don't let anything get in your way."

Here is the list of questions Mary on behalf of students and their families this week.

Get the College Viability Student & Family updates here.

1. What is a need-based scholarship?
2. What does a Board of Trustees do?
3. How does a college come to the decision that it must merge with another institution?
4. Can an endowment be used to help a struggling college?
5. What is a presidential scholarship?
6. What are some of the IPEDS reports from the College Viability app?
7. What are the 4 best comparisons to use when looking at colleges?
8. What is the College Viability Manifesto?

Here is a brief AI summary of the podcast.

The podcast discusses college finances and decisions. Key points include:

• Different types of financial aid: need-based (FAFSA-based), merit-based (academic or extracurricular achievements), loans (federal and parent), and work-study.
• Scholarships are often discounts rather than direct funds.
• Importance of considering college financial health: enrollment trends, graduation rates, endowments, and tuition revenue can indicate a college's stability.
• The role of college boards and their fiduciary responsibility.
• The impact of college closures and the increasing need for mergers.
• The College Viability Manifesto emphasizes the importance of college education, graduation, and considering the financial health of colleges before enrollment.