From the official press release, June 29, 2007: The Board of Trustees of historic Sheldon Jackson College has decided to suspend academic operations for one year while school officials consult with government, community and educational leaders in Alaska to determine a financially viable future for the 130-year-old school.
The news must have been a shock for many, though more shocking to me (an employee) was the fact that I (and all 100+ employees, and 100+ students) were given absolutely NO notice. As of this post (July 9, 2007) students have yet to receive any notice in writing, and have less than six weeks to find, apply for, and relocate to a new institution. Staff and faculty were told on a Friday afternoon that that was their LAST DAY. Health insurance benefits were terminated AT THAT MOMENT, and campus housing rates are being increased to "full market value" September 1st.
Unconscionable.
So what is to become of SJC? In the coming months, we're likely to see college real estate sold off, with the periphery of the campus going first. I'll bet my unemployment check that the SMC duplexes, Jeff Davis houses, Family Housing Apartments, and Lincoln Street lots are at the top of the list.
I sincerely hope that I am wrong.
However, the College owes approximately $6,000,000.00 to its debtors, and the ENTIRE campus is held as collateral. What's an out-of-business institution to do? I've created this blog to track the movements of the College and Trustees. Stay tuned...
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2 comments:
Jesus, I do hope you are wrong Bryner. I know I had my differences with that school, but I always hoped they would never stoop this low. It is nice to see someone in the top admin still cared about the students. It is obvious the Board didn't.
The human element is hard to believe with jobs and academic futures being put to risk. That said, I am at a loss to figure what is happening to money given to the college for a specific purpose.
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