Written by Allen Guelzo and published by Wall Street journal
MBA News Digest Comment: None.
Extracted Content: ‘Total Liquidation Sale! Everything Must Go!” the signs screamed. Which was odd, because this wasn’t a furniture store or a carpet warehouse. It was Concordia College, a small historically black private college in Selma, Ala., and it was selling office equipment, classroom articles and athletic apparatus.
Concordia would have been a couple of years shy of its centenary, but its student body contracted by 43% between 2005 and November 2018. Only around 400 students remained, and the college was $8 million in the hole. Closing Concordia “was the toughest thing I’ve had to do in my 50 years of higher education,” said James Lyons, its interim president. Tougher still, Concordia’s fate could be the future of small, private institutions of higher education in America.