2022_09_New_Jersey_Monthly

A SHRINKING POOL OF STUDENTS
About one in five undergraduates and one in three graduate
students in the state is enrolled in one of the 16 private, nonprofit,
four-year colleges. Enrollment in these schools dropped from a
peak of more than 79,000 in 2009 to under 64,000 in fall 2021, a
decline of about 20 percent, according to the state Office of the
Secretary of Higher Education. The baby bust that started during
the 2008 recession means that the pool of 18-year-olds—the
traditional college freshmen—is about to shrink further.
Enrollment at the most selective schools—Princeton University
and Stevens Institute of Technology—is
buoyed by demand. The larger of the
“
schools—Fairleigh Dickinson and Seton
Hall universities—generally have more
resources to absorb enrollment declines.
But the smaller schools—from Bloomfield,
with an enrollment of 1,300, to
Monmouth University, with about 5,400
students—often have the hardest time because
they are more reliant on tuition than
are their public counterparts. Cuts were
not uncommon during the pandemic. Monmouth,
for example, implemented a hiring
freeze, suspended capital projects, and reduced
spending and administrative salaries.
This year’s state budget increased operating
aid to the private schools from $7
million to $10.5 million, and individual
schools received millions more in state
grants. The sector also received $161
million in state and federal pandemicrelated
aid, according to the Independent
Colleges and Universities of New Jersey,
which represents the schools. But the
schools are likely to face a more difficult
financial situation in 2023, analysts at
Moody’s predict.
LOOKING FOR REMEDIES
The Bloomfield-Montclair agreement is perhaps the boldest of
remedies to date. Founded by Presbyterians as a German theological
school in 1868, Bloomfield is essentially a secular liberal
arts school now, serving a predominantly Black and Hispanic
student body. Affiliation with Montclair, a public university with
20,000 students, will give Bloomfield financial stability and additional
programming. Montclair will gain a downtown campus
about 6 miles away from its suburban location.
“Obviously, the geography makes a lot of sense, and we are
committed to maintaining and enhancing the legacy of Bloomfield.
We have similar missions of creating accessible high-quality
education,” Montclair president Jonathan Koppell tells New
Jersey Monthly.
During this coming year, the two schools will hash out the
details of a more permanent arrangement, “such as a merger or
an affiliation,” according to a statement from the schools.
Many small schools around the country are looking for partnerships.
Two in the Philadelphia area, the University of the
Sciences and St. Joseph’s University, recently merged, giving
“OVERALL these
small colleges
are very resilient.
They’ve got a lot of
stakeholders who
are interested in
their success,
including some
who may be in state
government. In
some cases, these
[schools] are important
economic drivers
in their area.”
—Susan Fitzgerald
Associate managing director, Moody’s
the latter more science and technology offerings. “If you have
something to offer a larger university, it’s attractive,” says Lawrence
Ladd, senior consultant with the Association of Governing
Boards of Universities and Colleges. “It’s usually location or
programming or both.”
Other schools have sought to raise funds by selling real estate,
including Drew University in Madison, which has proposed the sale
of 53 acres of its iconic, leafy campus. Proceeds would “go directly
to improving the strength of Drew’s endowment, which provides
scholarships and academic opportunities to our students,” Drew
president Thomas J. Schwarz tells New Jersey
Monthly. Local environmental groups
are advocating that the land be purchased
for conservation.
Georgian Court University in Lakewood,
where enrollment is down more
than 11 percent since 2019, recently announced
an agreement to sell 42 acres of
its 150-acre campus to a nearby yeshiva,
with plans to use part of the proceeds to
build a new nursing and health sciences
center and to create a student center.
GENEROUS AID PACKAGES
Students and their families often believe
that private-school tuition—even with
aid—can’t compete with public options.
But experts say students need to “look
beyond the sticker price.”
Most of the schools offer generous aid
packages that slash the cost of attending,
”
says Steve Reynolds, president of the Independent
Colleges and Universities of
New Jersey. Reynolds and others extoll the
benefits of the small colleges, especially for
students seeking small classes and close
relationships with faculty.
Being at a smaller school meant a lot to Andrew Bernstein, 21,
a senior majoring in political science at Rider, where he leveraged
the school’s Rebovich Institute for New Jersey Politics to find
internships. “They opened a lot of doors,” Bernstein, of Freehold,
says. “I had a list going in [to college] of things I wanted to do. I
have been able to do those things, and then some.”
“They offer a different experience than, say, a community college,
which can be transactional,” says Ladd, from the national
governing association. “These colleges offer a fuller experience.
You’re more likely to live in a residence hall; there is much more
interaction with peers and faculty,” he says. “The difficulty right
now is, less people are willing to pay for it.”
At Saint Peter’s, a Jesuit university with 3,000 students in
Jersey City, no student pays the advertised $39,000 tuition, says
president Eugene Cornacchia. Most qualify for state and federal
aid and also receive institutional aid, thanks to a relatively robust
donor base. The school’s fortunes were boosted this year by the
success of the men’s basketball team, but the national attention
has not yet translated into an enrollment hike, Cornacchia says.
Cornacchia says Saint Peter’s small size makes it “more nimble...
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SEPTEMBER 2022 NEW JERSEY MONTHLY 69