In a lengthy, far-ranging post that launches the State System into the second half of the academic year, Chancellor Dr. Dan Greenstein tackles a number of themes, including the continuing influence of online education, the growing trend of universities offering non-degree industry certifications, and the current political upheaval surrounding controversial leadership at so-called “elite” universities such as Harvard.
Greenstein also pulls back the curtain a bit on how close the State System came to a major existential crisis before turning a corner in the last several years. He says that in the fall of 2019, six State System schools were spending beyond their means and relying on reserves to balance their budgets, and one of them had exhausted its reserves and was depending on other State System schools, with four others heading rapidly in that direction. That’s a trend noted often by State Senator Joe Pittman. Greenstein writes that the State System was “careening toward a $160 million structural deficit that…would have exhausted (its) reserves by 2027.”
The chancellor writes that four years later the System is much more stable but warns that it’s not going to be easy to continue the trend. He says the bipartisan coalition that played a key role in the turnaround needs “constant and careful attention and nurturing”, and the State System needs to “proceed with caution and care.”
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