At the university's Welcome Back Breakfast on Thursday morning, SOU President Rick Bailey said the decline in enrollment is mainly due to a months-late rollout of the federal financial student aid form known as the FAFSA.
Bailey said the FAFSA is the first point of contact for 18% of students who come to SOU.
"As far as explanatory variables go, the late FAFSA rollout is really the driver for that enrollment, and that gives me confidence that likely there's going to be some bounce back next year," he said.
Bailey said he鈥檚 confident the university will be able to manage the shortfall, partially by selling off some properties it owns in Ashland.
"Don't get me wrong. For a living, I鈥檓 concerned. I want this institution to thrive. But I know that our current challenges are things that we can overcome," he said.
SOU has faced a dire financial situation in recent years, with a budget shortfall once forecasted to reach $14.6 million by the 2026-27 academic year. A fiscal realignment plan in spring 2023 led to cuts equal to 82 full-time positions.
Bailey said there will be no layoffs as a result of the current deficit, which he described as "potentially an anomaly." The university is also investigating other solutions in addition to selling properties, but he declined to share further details.
According to research by the , a nonprofit that provides reports on education data, spring total enrollment at public 4-year institutions grew on average in 2024 compared to the previous year.
