Albright College in Reading, one of the many higher education options for Chester County students, ended its recent fiscal year with a surplus of over $10 million, overcoming its deficit by cutting operational costs, reducing full-time staff, and selling unused property and assets, writes Amanda Fries for The Philadelphia Inquirer. 

But even with all the strategic changes, experts warn the recent windfall does not guarantee long-term financial health, as much of the revenue came from one-time measures.

Additionally, the numbers reported by the liberal arts college have not been audited, meaning they may not be completely updated. 

Albright College is one of several small colleges and universities in Pennsylvania facing major challenges because of declining enrollment. Its net income margin has sharply declined in recent years, falling below the levels seen at some now-closed peers, such as the University of the Arts. 

Higher education experts believe that Albright needs more than just cost-cutting to recover and will require what Lynn Pasquerella, president of the American Association of Colleges and Universities, terms “multiple points of entry” to generate sustainable revenue. 

“It’s very difficult to cut your way to financial sustainability,” said Pasquerella. “It really does require an investment: alumni giving grants, support at the state and federal level.” 

Read more about Albright College’s changes and struggles with long-term financial health in The Philadelphia Inquirer. 

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