Birmingham-Southern College’s future at stake as lawmakers discuss $37.5 million bailout

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Birmingham-Southern President Daniel Coleman is seeking state, city, and county funding for the private college, which is in danger of closing. More:

In a letter to members of the Jefferson County Delegation of the Alabama Legislature, Sen. Jabo Waggoner and Rep. Jim Carns wrote: “Birmingham-Southern has been operating in financial distress for over a decade. Without support, it will not be able to continue to operate after May 2023.”

Birmingham-Southern College is known the world over for academic excellence. News Staff Bernard Troncale.In a statement released Saturday, the college said the public funds were needed to “allow sufficient time for the fund-raising effort to succeed ad to give BSC breathing room to operate.” “Subsequent presidents did a remarkable job of funding the year-to-year operations of the College despite significant challenges. Without a healthy endowment, the economic model under which BSC operates is simply not sustainable for the long-term.”

Source: Education Headlines (educationheadlines.net)

 

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The situation has been going on for years ever since a huge mistake in Financial Aid that cost BSC severely. The bond rating was lowered last January and the outlook was bleak. Why wait until now & why haven’t they been able to raise the $ before. Private is Private. D’ONT HELP!

Tax payers should Not Have to pay for their funding problem

Not with tax money

I often wonder how so many colleges and universities can exist. There are so many small, medium and large institutions, how can they compete for students and keep their tuitions affordable?

terrible location....

No

Someone who is more in the loop than me may be able to answer: does the UMC split impact this situation?

Churches should be taxed if private, faith based/affiliated institutions demand public money

Churches should be taxed if private, faith based/affiliated institutions demand public money

Sorry but private businesses shouldn’t be bailed out by taxpayers money who wouldn’t have been allowed to attend the college. Sorry I’m paycheck to paycheck myself. Maybe hire better accountants

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