Albright College is facing a severe financial crisis, marked by a $46 million net asset decline. In response, the college has cut 53 jobs, eliminated certain academic majors, and borrowed $25 million from its endowment to avoid closure. Despite these drastic measures, Albright remains hopeful about its future, with officials focused on cost-cutting and program changes aimed at stabilizing the college and aligning with student demands.Amid $46 million loss, Albright College taps endowment, slashes jobs to prevent closure
Albright College is facing a severe financial crisis, marked by a $46 million net asset decline. In response, the college has cut 53 jobs, eliminated certain academic majors, and borrowed $25 million from its endowment to avoid closure. Despite these drastic measures, Albright remains hopeful about its future, with officials focused on cost-cutting and program changes aimed at stabilizing the college and aligning with student demands.