Being Prepared for the Unknown
Funding is essential to the operation of any business, higher education included. Similar to any budgeting process, an analysis of money in and money out highlights areas where changes are required for a balanced budget. Federal funding is an input that some colleges and universities are deciding to not include in their calculations. As Jesse calls out, “there are no grants from the National Institute of Health, no Pell Grants, no Covid-relief funds, no federally backed student loans.” And he continues, “There’s also no federal oversight.” This seems like a sound strategy in a politically uncertain time, but the challenges come in that this funding is often significant, making strategies to replace it difficult. At Mount Liberty College, in Utah, they started the college with no federal funding due to opposition of what is required by the Federal Government, relying instead on founders, donors, and other local financial inputs. Jennifer Jansen of Mount Liberty Collage, said “Ours has b...