Following the announcement of Bradley University’s partnership with T-Mobile, President Stephen Standifird sent an email to students along with a press release to faculty regarding the budget update at Bradley.
It is stated in the press release that for the upcoming school year of 2024, a $13 million budget shortfall has been created due to lower enrollment numbers, the economic climate and the increasing operating costs of running an institution.
The budget shortfall is 10% of Bradley’s current operating budget and the shortfall will only get worse if no further measures are taken.
“One of the things that has been a challenge for higher education is it’s been an industry of stability for over one hundred years. But those days are over,” Bradley University President Stephen Standifird said in an interview with Bradley Executive Director of Communications and Media Relations, Libby Derry. “One of the things we have got to do is we have to evolve into an institution that is more responsive and agile moving forward, and that’s exactly what we will be doing as part of this process.”
In the email to students it includes the mention of reviewing the majors and academic programs that are offered at Bradley. Both are going to be under reconstruction to ensure that the courses and programs are meeting the market demands from students.
This means that there may be a reduction in jobs for multiple programs after identifying needs for improvement in different areas. In the email it is stated that this will be done to help further prepare students for their career paths by making it centered closer to them with the implementation of new programs. Such as the partnership with T-Mobile.
Not only will there be new academic programs but there is also going to be an expansion in online programs to better fit students interests.
“Where you students will see change is an adjustment to our offerings, to make sure they better meet the needs and interests of today’s students,” Standifird said in the interview.
To end the press release, it is acknowledged that these changes can cause concern for the campus community. Bradley’s faculty assures that with the combination of open communication, collaboration and shared responsibility, it will be used to navigate the financial struggle that the university is currently facing.
