Jan 20, 2023, 12:16 PM
(From Inside Higher Ed) Presentation College in South Dakota, announced its impending closure this week, following enrollment declines and rising operational costs over the past five years. During that time period, the school discounted tuition at increasing rates: In fiscal 2016, it listed $3.5 million in scholarships and grants versus $13.8 million in topline tuition and fee revenue. By 2021, scholarships and grants totaled $4.3 million against $11.8 million in tuition and fee revenue.
Presentation College joins a growing list of institutions to close or announce plans to shutter in the wake of the pandemic. Analysis from S&P Global Ratings and Fitch Ratings suggest 2023 may be the year vulnerable institutions succumb to the closures that government funds helped them stave off.
15
years is the target ceiling for a school plant's financial "age."
