Averett University Shakes Up Curriculum: The Impact of Financial Struggles on Liberal Arts Programs

Averett University in Danville, Virginia, is undergoing notable changes as it works to improve its finances. This comes after accusations that a former chief financial officer mismanaged $18 million of the university’s endowment. In response, the university has initiated legal action against that CFO and the investment firm involved.

Dr. Thomas Powell, the university’s president, explained that they are cutting several liberal arts programs, including political science and communications, while also eliminating three minors. The goal is to stabilize the school’s finances without laying off staff. Powell noted, “We need to meet our payroll and live within our means, something we’ve struggled to do in recent years.”

In an effort to raise funds, Averett has sold the Conway and President’s houses, auctioned off their contents, and is looking to sell its equestrian center while planning to lease it back from the new buyer.

While many alumni are worried about these cuts, especially those who studied subjects like music and religion—both now on the chopping block—Powell reassured them of the university’s commitment to liberal arts. He stated, “Liberal arts is still essential. Students will still need to take liberal arts classes, but we’ll focus more on majors that are in demand, like aviation, nursing, and business.”

This shift raises questions about the future of liberal arts education, especially as many universities nationwide face similar financial pressures. According to a recent survey by the American Association of Colleges and Universities, nearly 60% of colleges are reevaluating their liberal arts programs to focus on career-oriented studies.

In the past, liberal arts education was seen as vital for developing critical thinking and a well-rounded education. However, as universities strive for financial sustainability, many are choosing to specialize in fields deemed more marketable.

The response from former students, like John Stephens, reflects a broader concern about this trend. He wonders why Averett is reducing its liberal arts offerings at a time when such education is crucial for a holistic academic experience.

Averett University may not be completely dropping liberal arts, but its new direction indicates a significant shift. Balancing financial needs with educational ideals continues to be a pressing challenge for many institutions today.

For further insights into this trend, you can check the report from the American Association of Colleges and Universities here.

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Averett University,Liberal arts,Financial crisis,Program cuts,Thomas Powell,CFO mismanagement,Student majors,Financial sustainability