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Dive Transient:
- Temple College in Philadelphia plans to lay off about 50 employees members as it appears to chop a finances deficit beforehand forecasted at $60 million all the way down to $27 million, in keeping with a group message Friday from college President John Fry.
- The layoffs — amounting to just about 1% of Temple’s workforce — are half of a bigger discount of 190 positions throughout the college, the vast majority of which have been eradicated through attrition, retirement or chopping vacant roles. Not one of the layoffs impression school members, a spokesperson mentioned Monday.
- Temple can also be “carefully monitoring” the potential impacts of adjustments to the federal pupil mortgage and Pell Grant applications set to start out within the 2026-27 tutorial 12 months following the implementation of Republicans’ large new spending invoiceFry mentioned.
Dive Perception:
Temple leaders signaled in June that job cuts have been doubtless as officers tried to scale back the college’s structural finances. On the time, Fry pointed to a long-term dip in enrollment, particularly a decline of 10,000 college students since 2017, with a lot of the loss coming through the pandemic. As of fall 2023, Temple had simply over 30,200 college students.
Nevertheless, the general public college simply logged its highest-ever variety of first-year pupil deposits — 6,313 — indicating a second 12 months of development in Temple’s first-year class on prime of a projected total enrollment enhance of roughly 200 college students, in keeping with Fry’s announcement. That might mark the primary time the college’s pupil physique has grown since 2017.
However for Temple, the historic enrollment decline has meant a drop of $200 million in tuition income, placing stress on the college to scale back its bills — the massive majority of that are tied to worker compensation and advantages. And so to chop the college’s deficit, leaders have seemed to its workforce.
Of the approaching layoffs, Fry mentioned “appreciable efforts have been made to make sure that the discount to our present workforce was as minimal as potential.”
“It’s my promise that care will probably be taken to make sure that any worker’s separation from the college will probably be dealt with as equitably and compassionately as potential,” he added.
In his message, Fry described “important monetary challenges” going through Temple, stemming from each its structural deficit in addition to “uncertainty on the federal stage.”
Fry highlighted the adjustments set for the federal pupil assist program with out elaborating on their potential impression on Temple. Those adjustments embody new limits on Pell Grant eligibility, caps on pupil and father or mother borrowing, and an elimination of Grad PLUS loans, which permit graduate college students to take out loans as much as their price of attendance.
He additionally introduced the roster of a 13-member college advisory group made up of school, college students and employees to, as he put it, “assist us navigate this advanced and evolving surroundings.”
Vast swaths of the upper schooling world are making workforce and spending cuts because the Trump administration takes a hatchet to the federal analysis funding system. Schools are additionally bracing for additional monetary impacts from different federal coverage adjustments in Republicans’ spending and tax invoice, together with an elevated endowment tax and Medicaid cuts that can land arduous on many college hospital programs.
