Howard University in Financial Distress

rockvillemom
Mon, 10 Jun 2013 19:28:19 +0000

Serious financial problems - from NBC4:



A Howard University trustee says the school could shut its doors within three years due to “genuine trouble,” including mismanagement and financial problems.

“Howard will not be here in three years if we don’t make some crucial decisions now,” wrote Renee Higginbotham-Brooks, vice chairwoman of Howard University’s board of trustees, the Washington Post reported.

Her April 24 letter to other board members was recently obtained by The Chronicle of Higher Education and published on their website (subscription required).

Higginbotham-Brooks confirmed to the Washington Post Saturday that she was the author of the letter, but declined to comment further.

Competition from less-expensive public universities has led to dropping enrollment, she wrote, and the school is also facing possible cuts in government funding due to the sequester.

A surplus of employees – approximately one for every two students – and expenses from the university hospital are also draining the school’s coffers, she wrote.