On Tuesday, SOU President Rick Bailey issued a statement to the campus community, saying the University is forecasting a 6% decrease in overall student credit hours. This includes both incoming freshman and transfer students, whose numbers at SOU have been steadily declining in recent years.
Bailey said this would represent a $2.7 million drop in the university鈥檚 budget if the current projections hold.
The drop in this year鈥檚 student enrollment figures is 鈥渢he result of a late and confusing rollout of the revised 2024-25 Free Application for Federal Student Aid (FAFSA),鈥� Bailey said in the statement. The FAFSA rollout also affected students looking to transfer to SOU.
To make up for the budget shortfall, University officials are looking at new ways to generate revenue. In 2022, SOU鈥檚 Board of Trustees approved the sale of surplus properties adjacent to the college campus. Bailey said officials are moving forward with the process of selling these properties.
鈥淭he market value of these properties also will create an opportunity to strengthen our reserves overall,鈥� Bailey said. 鈥淏UT, we must keep a close eye on our 2026 enrollment numbers to ensure that we are not using these one-time dollars to solve recurring challenges.鈥�
Since the pandemic, student enrollment numbers have taken a hit at colleges and universities across the country. According to research by the National Student Clearinghouse Research Center, fall undergraduate enrollment at public 4-year institutions is climbing but has not yet risen to pre-pandemic levels.
鈥淪OU is not the only school facing this scenario, as many students nationally are taking a gap year, forgoing college or making enrollment decisions later than usual,鈥� Bailey said.
SOU has taken action to reorganize its finances in recent years. In 2023, the University released its fiscal realignment plan when it faced a nearly $5 million shortfall that coming fall. The plan involved cutting 82 full-time equivalent positions, or 13% of University staff.
Bailey said in the statement that it will be another month before fall enrollment numbers are solidified, and he will discuss the issues further at SOU鈥檚 welcome breakfast in September.
