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The Journal.

A University Spent Lavishly to Attract Students. Enrollment Fell.

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 14 September 2023

⏱️ 17 minutes

🧾️ Download transcript

Summary

For years, West Virginia University, a state flagship, poured money into gleaming new research facilities and dormitories to attract new students. It had to borrow money to do so. The university now faces a huge deficit and major cuts. It's a problem facing many major public universities, as WSJ’s Melissa Korn explains. Further Reading: -West Virginia University Banked on Growth. It Backfired. -Colleges Urged to Produce Better Information on How They Spend Money -Colleges Spend Like There’s No Tomorrow. ‘These Places Are Just Devouring Money.’ Further Listening: -Wesleyan’s President on Admissions Post-Affirmative Action Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

For weeks now, there's been an uproar at West Virginia University.

0:11.6

Students and faculty have been protesting big changes that the administration is trying

0:16.2

to push through.

0:21.2

There were hundreds of students and faculty and local residents who came out in the protest

0:28.1

to place outside what's known as the mountain layer, that's the student union, the hub

0:35.2

of the campus, and they had their bull horns and they had plenty of chance.

0:44.7

Our colleague Melissa Corn has been covering what's happening at West Virginia University.

0:49.5

Over the summer, the administration proposed a massive restructuring, scrapping dozens of

0:54.4

academic programs and laying off over 160 faculty members.

0:59.6

The students were really riled up and they've continued to be the reason for the cuts,

1:06.0

a huge hole in the school's budget.

1:08.8

The president came out and said, hey, we're facing significant financial troubles.

1:12.7

We have this deficit of about $45 million if we don't do something with next year's budget.

1:19.6

If we keep on this course, that could go up to $75 million by 2028.

1:28.6

And West Virginia University is not the only school where this kind of thing is playing

1:33.1

out.

1:34.1

For decades, public universities across the country have spent lavishly to attract students.

1:40.1

Now they're finding themselves in deep financial trouble.

1:43.9

West Virginia is, in many ways, a poster child for the challenges and the mistakes in higher

1:51.9

education right now.

1:53.8

And they're not unique.

1:55.5

And I think that's one of the big scary parts of all this is they're not exactly an outlier

...

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