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A Financially Troubled University in West Virginia Collapses, Leaving Students in a Bind

A Financially Troubled University in West Virginia Collapses, Leaving Students in a Bind

As the start of the new school year draws near, many students in West Virginia are scrambling to find a new place to study after learning that their local university may be closing due to financial difficulties.

According to a statement released by the university’s director of marketing and communications, Cary Walters, the board of trustees at Alderson Broaddus University, a private Baptist university in Philippi, West Virginia, voted on Monday to close the school.

“As you can imagine, we are currently focused on providing accurate information to our students, faculty and staff regarding next steps and what they can expect in the coming days and weeks,” Walters said.

As a result of the “rapidly deteriorating financial condition” at Alderson Broaddus University, the West Virginia Higher Education Policy Commission, the governing body overseeing universities in the state, voted to revoke the university’s ability to confer degrees at an emergency meeting on Monday.

The tweet below verifies the news:

The Commission took this action after receiving and confirming information that Alderson Broaddus University’s financial condition renders the institution unable to create a stable, effective, and safe learning environment for its students,the Higher Education Policy Commission said in a statement.

For a long time, Alderson Broaddus struggled financially, as seen by his tax returns. The university’s liabilities exceeded $39 million in 2022. The college recorded a loss of $904,424 in 2020. If the commission had made its decision on December 31, Alderson Broaddus could not have admitted any new students for the upcoming fall 2023 semester.

West Virginia’s Chancellor of Higher Education, Dr. Sarah Armstrong Tucker, has stated that the commission’s “primary focus is to assist (Alderson Broaddus) students in making a smooth transition to their next educational setting.”

“We have been working with other colleges and universities in the state, and we are grateful to have institutions that are eager to help these students transfer and complete their degrees,” Tucker said in the commission’s statement.

“The Commission takes its role in authorizing private institutions to operate within West Virginia very seriously. This is a role that the Legislature entrusted us with to safeguard students, and that is exactly what we are doing.”

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Other Universities Offer Support

Several state colleges and universities have publicly stated their willingness to accept transfer credits from Alderson Broaddus.

We will provide these students with fast and free priority application and thorough transcript evaluations. Students accepted to (West Virginia Wesleyan College) will be given guaranteed housing placement, robust financial aid opportunities, and holistic student support,” West Virginia Wesleyan College said in a statement.

Fairmont State University has announced that they have established a scholarship fund specifically for Alderson Broaddus students.
“Fairmont State has created the Battler Transfer Scholarship, a scholarship for transfer students from Alderson Broaddus to support their transition and degree completion,” the school said.

“Any incoming first-time freshman who can provide a copy of their admit letter from AB will be provisionally admitted to Fairmont State.” University officials have stated that they will give Alderson Broaddus applicants top consideration and do their best to help them “maximize the transfer of courses and keep them on track with their personal degree plans.”

‘I’ll End up Where I’m Meant to Be’

Some of the players who had been recruited to play for Alderson Broaddus are now trying to find new schools to play for. Many people are now using social media to contact potential employers. Junior-to-be sprinter Justin Kearney told CNN he heard the news of the school’s closing from his friends on the team on Snapchat.

“Honestly, it hurts, but stuff happens. I love Alderson Broaddus forever and always all the friends, good memories and sports trips, it will always have a place in my heart,” Kearney said. “It’s been tough. One minute I’m working doing my normal day, next minute I’m posting on Twitter that I’m looking for a new place to call home. It’s still so surreal.”

Freshman football player Jalin Quintanilla told CNN that the coach verified the stoppage on the Friday before the team was scheduled to begin preparation for fall camp. He remarked that “it hasn’t been easy” this week. “But I think everything happens for a reason and at the end of the day, I’ll end up where I’m meant to be,” Quintanilla said.

If you’re a resident of the Golden State, you should read The California Examiner:

The governor of West Virginia, Jim Justice, has also expressed his dismay at the decision to shut down the institution. “I hate to hear about Alderson Broaddus, as it holds a special place in the town of Philippi. My thoughts go out to the students, faculty, and alumni of the institution during this challenging time,” Justice said in a Monday tweet.

According to the school’s official website, Alderson-Broaddus College was established in 1932 as a result of the merger of two preexisting Baptist liberal arts colleges. Alderson Broaddus University was officially recognized as a university in 2013.

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