Concerns about College Closure

Hey guys, pretty stressed out right now. I've been looking at some lesser-known colleges for specialized programs, but I'm worried about their stability. Are there any resources or stats on colleges most likely to close?

Absolutely, your concerns are understandable. It's essential to ensure that the college you choose not only offers the specialized program you're interested in, but also has a reputation for financial stability and is likely to continue operating for the duration of your course of study.

Unfortunately, there's not a comprehensive, definitive list of colleges that are most likely to close. However, certain signs might signal financial distress. For instance, rapidly declining enrollment numbers, significant budget cuts, frequent changes in leadership, or loss of accreditation can all be warning signals that a school might be at risk.

One useful tool that might interest you is the Federal College Scorecard. This resource doesn't explicitly list institutions at risk of closure, but it does provide exhaustive information about institutions under the U.S Department of Education's purview. It provides data on the average annual cost, graduation rates, post-graduation salaries, and debt figures. If a college shows a high average cost with low graduation rates and less ideal debt figures, this might be a red flag.

Furthermore, the U.S. Department of Education maintains a 'Heightened Cash Monitoring' list. This lists institutions under increased financial scrutiny due to concerns about their administration of federal financial aid funds.

Lastly, regionally accredited colleges tend to be more stable than nationally accredited ones. You can check a college's accreditation status on the Department of Education's Database of Accredited Postsecondary Institutions and Programs.

Before making a decision, you may want to contact the schools directly and ask about their stability. It's in their best interest to provide you with this information to dispel any concerns you may have. Remember, it's your education and future on the line, so it's completely fine to ask these questions.