Carol Folt officially announced that she will step down as USC’s president on July 1, calling her time at the university “one of the greatest privileges” of her life. In her recent State of the University address, she highlighted USC’s achievements over the past six years and shared her optimism for the future.
With over 24 years of experience leading universities, Folt radiated her passion during the address at Bovard Auditorium. She acknowledged the uncertainties in higher education today but reminded everyone that when she began at USC in 2019, the university was facing its own challenges. Despite the rough start, she is proud of the progress made and believes the Trojan community will continue to drive positive change.
Folt remarked, “We’re working hard to support you in continuing your vital work.” She focused on USC’s collaborations that led to significant milestones and addressed the hurdles the university faced during her tenure. Key moments include navigating the pandemic and acknowledging past injustices, such as the renaming of the Dr. Joseph Medicine Crow Center and the establishment of the Nisei rock garden. This garden honors Trojans of Japanese descent who faced discrimination during World War II. Folt awarded honorary degrees posthumously to these individuals, highlighting the importance of rectifying historical wrongs.
“It was time that USC corrected a deeply shameful episode in our history,” she said about the garden. “It honors all those Trojans.”
Folt also discussed the significance of USC’s presence in Washington, D.C., emphasizing that it’s vital for West Coast schools to have a voice and influence in national conversations. “Being truly heard across the continent is really important,” she noted.
As she talked about the university’s many advancements in enrollment, research funding, athletics, and sustainability, Folt introduced her ambitious initiatives. These include USC Competes, Reimagining Athletics, Health Sciences 3.0, Sustainability, and more. She reassured everyone that even with her departure, the momentum will continue under the interim leadership of Senior Vice President Beong-Soo Kim.
“We see ourselves as a launchpad for change,” Folt explained. “When opportunities arise, we need to seize them.”
However, she didn’t shy away from discussing potential challenges. The increasing cost of education and the need to attract new students to USC were major topics. She stressed the importance of making USC a desirable place to study without excessively raising tuition. “We offer free tuition to students from families earning less than $80,000,” she highlighted, emphasizing the university’s commitment to affordability.
Folt also mentioned the significant federal funding USC receives, totaling $1.5 billion annually, which supports scholarships, financial aid, and research. She expressed concern about the many executive orders from the current administration that could impact university priorities, urging the USC community to prepare for scrutiny in these areas.
“We must become comfortable with uncertainty,” Folt stated, while maintaining her confidence that solutions will emerge. She concluded by reassuring everyone that USC is well-positioned to navigate future challenges while remaining true to its mission. “We have a history of boldness,” she reminded the audience, underscoring the university’s commitment to producing amazing leaders ready to make a difference in the world.
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