It's been three years since Greensboro College was placed on probation by its accrediting body. But now the college has regained its financial stability and is being looked at as a model for how a small liberal arts college that struggled during the recession can regain its footing.
Once one of the fastest-growing small liberal arts colleges in the country, the nonprofit Greensboro College fell into the red during the recession, as declines in enrollment crippled an aggressive expansion plan and investments in new programs, facilities and real estate. But the 176-year-old school returned to the black last year and secured its accreditation.
Owen Covington with the Triad Business Journal looks at the financial troubles the college faced, and how it's now prepared to work toward a new vision for how students are taught and graded.
“A big part was rethinking the school it wanted to be, and shedding some of the investments it had made. College officials sold property, cut staff, and reworked its loans. All of this was done under new president Larry Czarda,” says Covington.
Covington says the school now stands as a model for other institutions facing similar challenges. “They have built it on three pillars. One is to rededicate themselves to a liberal arts curriculum. The second is to recommit to an affiliation with the Methodist Church. The third is what really sets them apart. They have decided to overhaul the entire curriculum, the entire institution, under this premise called Universal Design for Learning.”
He goes on to explain that Universal Design for Learning is basically an overhaul of how students are taught and tested, and an institution-wide framework that seeks to support students and play to their strengths.
The Business Report on 88.5 WFDD is a partnership with the Triad Business Journal. You'll find Owen Covington's storyand more breaking business news at Triad.Bizjournals.com.
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