In this special edition of 'This Week in College Viability' we hear from an alum of a college that is clearly in significant financial trouble.
Jeremy Lakosh is a 2005 graduate of Eureka College (IL). He is the CEO of a retirement community in Eureka and has spent 6-years on the Eureka Alumni Board - and led the group for 2 years.
Mr. Lakosh's story is one of both conviction and supporting data that his college is quite likely on the way to ruin - and possible closure. It is also one that I frequently read about and hear about from others.
For example, he cites a recent financial statement going from a positive cash flow of $500K to a negative cash flow of $1.75 million dollars. Mr. LaKosh also shares how a Facebook group (Eureka College Alumni Update) started in December 2023 has already grown to about 1,500 members as proof that there is widespread alumni concern about the direction and potential closure of the college.
Efforts by the alumni group to communicate with both the college leadership and board have been met with silence.
Listen to the specific story about Eureka College, but know that it is a story all to common in smaller private colleges throught the U.S.
