Guilford College recently capped off a successful fundraising campaign, but fiscal challenges remain for the small private school as it faces declining enrollment and external budget demands.
By the end of last month, Guilford had raised just over $6 million, exceeding its goal, and trimmed $4.5 million from the previous fiscal year’s budget. But, after finally stabilizing enrollment numbers post-COVID, this year’s class of around 950 students is considerably down from 1,200 last year.
Acting Guilford College President Jean Parvin Bordewich says the dip is due to a combination of factors such as changing demographics, post-COVID challenges, and Guilford-specific issues.
"The main issue I would see is concern about our accreditation and financial condition," says Bordewich. "And some parents I talked to said, ‘Well, I'm concerned if I send my child there, that they're going to either have to transfer if you go away during their four years, or they're going to graduate from a school that's not accredited.’"
To make up lost tuition revenue, Bordewich says Guilford needs to highlight its personal education approach; emphasize the Early College at Guilford; and focus recruitment efforts outside of North Carolina, including the mid-Atlantic and Northeast.