Is not just the students who have financial woes: Saving Chester College

[jym626]

<p>[Chester</a> College students rally to stave off closure | Inside Higher Ed](<a href=“http://www.insidehighered.com/news/2012/05/03/chester-college-students-rally-stave-closure]Chester”>http://www.insidehighered.com/news/2012/05/03/chester-college-students-rally-stave-closure)

Students and employees are rallying to save Chester College of New England amid concern the tiny art-focused institution won’t be able to pay its bills.
Since learning a week ago that the 144-student institution in rural New Hampshire was in grave danger of closing under the weight of a deficit of around $750,000, supporters have raised $70,000. They hope to come up with more at a weekend fund-raiser.
One student returned his scholarship money. High school seniors accepted for the fall are donating, not withdrawing. And college representatives plan to address the town council and plead their case. Still, the dean of students, Byron Petrakis, acknowledged, “the odds are long…
Like many colleges, Chester suffered during the recession. The college’s limited aid funds mean that its discount rate is 20 percent – much less than competitors – so it’s hard to attract students when other colleges offered twice as much aid, said Laura Ives, vice president for academic affairs and students.
And at an institution that counts its students in the dozens and not thousands, a dropoff in enrollment is especially painful. There were around 220 students in 2010, 75 more than today. Ives maintains there are positive signs, as more students from out-of-state apply and the academic credentials of recent classes improve.
But when financial struggles this severe are aired publicly, small private colleges don’t tend to stay open. Dana College, a Lutheran institution in a Nebraska rivertown, shuttered in 2010 after a sale to a for-profit buyer fell through. Mississippi’s Wesley College closed that same year after failing to pay off debt and attract donations. Lambuth University in Tennessee closed last year after losing accreditation and struggling financially. Iowa’s Waldorf College ceased to exist in its previous form after it was sold to a for-profit entity.</p>

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[lje62]

<p>I’ve never heard of this school . I applaud the effort of the students and hope it helps</p>