Rural and Urban College Closures: The Impact on Students and Communities
Small private colleges are facing financial challenges, leading to closures that impact students and communities. Investigative journalist Jon Marcus discusses the closure of Sterling College in Vermont and the emotional toll on students. The disconnect between student desires for intimate education and the higher education model's sustainability is a concern. The declining number of 18-year-olds entering college and questions about the return on investment in education contribute to college closures.
When colleges close, fewer than half of affected students continue their education, leading to debt and underemployment. The closure of rural colleges like Sterling and Green Mountain has significant implications for rural America, affecting local economies and communities. The closure of colleges in urban areas also has repercussions, with some colleges repurposed for other uses.
The closure of colleges like Sterling and Green Mountain is a sign of the ongoing reshaping of higher education in America. The pandemic funding delayed closures, but projections indicate more colleges will shut down. Warning signs for colleges, policymakers, and consumers include institutional debt, operating budgets, and financial disclosures. Families should inquire about the financial stability of colleges and consumer protections to ensure their child's education is secure.