Louisiana Colleges Face Uncertain Financial Future
NEW ORLEANS
The hurricane-stricken colleges of New Orleans have insurance, endowments, and loyal alumni ready to provide emergency donations. But whether the schools survive and thrive depends on whether they can persuade students such as Christie Cleveland to return to campus.
“I need to see what happens to the school and the city first,” said Cleveland, a Loyola University of New Orleans junior from California who has relocated to Boston College this semester. “I have to admit, everything I’ve been hearing from people who stayed behind really frightens me, the total breakdown of civilization.”
For recruiters at New Orleans colleges, the city’s rich culture — and hedonistic reputation — have been a powerful draw. Now, about a half-dozen universities and a few smaller institutions are facing a potentially enormous long-term problem: What if students no longer want to attend college in the city?
“How these next several months play out will determine whether or not these institutions make it or not,” said David Warren, president of the National Association of Independent Colleges and Universities. “The most sensitive question is whether or not they can keep their students, because these institutions are so tuition-driven.”
The concern is not necessarily the semester — at least — that schools including Tulane, Loyola and Xavier universities have already announced they will be closed. Those schools can tap endowments, though of varying sizes, and have most of their fall tuition money in hand. Other colleges taking on their students, such as BC, have generally taken pains to emphasize they won’t try to poach students away permanently.
