FB: Southern Athletic Association

[crufootball]

Is the school is saying no board meeting for Tuesday. They are having a faculty meeting, so we are still in complete limbo. The problem now is even if they school manages to continue, since last year the staff is having to be rebuilt and students are having to be re-recruited. It will be a hard, long climb to just get back to where we were pre-covid, much less to the point they want to be.

I just can't imagine anyone thinking sending their kid to B-SC next year is a good idea right now.

Here's the thing:  if you're not in Alabama or maybe even in the Birmingham, you may not even be aware there is a problem.  We are hyper-focused on this, but how much information is out there that the general public actually sees?  You can find it if you go looking, but a lot of people won't look.   

That's mildly terrifying. You think people will commit roughly 20K a year to something without doing, at the very least, a simple google search? The situation is pretty much the top results for any B-SC search. I don't go to a restaurant without checking reviews first most of the time....

In people's defense if you just read the headlines it sounds like every debt ceiling debate for the last few years, 2 sides that don't seem to agree on anything....the deadline is past..... 2 weeks later a new deal is confirm for a short time period.

[jknezek]

Is the school is saying no board meeting for Tuesday. They are having a faculty meeting, so we are still in complete limbo. The problem now is even if they school manages to continue, since last year the staff is having to be rebuilt and students are having to be re-recruited. It will be a hard, long climb to just get back to where we were pre-covid, much less to the point they want to be.

I just can't imagine anyone thinking sending their kid to B-SC next year is a good idea right now.

Here's the thing:  if you're not in Alabama or maybe even in the Birmingham, you may not even be aware there is a problem.  We are hyper-focused on this, but how much information is out there that the general public actually sees?  You can find it if you go looking, but a lot of people won't look.   

That's mildly terrifying. You think people will commit roughly 20K a year to something without doing, at the very least, a simple google search? The situation is pretty much the top results for any B-SC search. I don't go to a restaurant without checking reviews first most of the time....

In people's defense if you just read the headlines it sounds like every debt ceiling debate for the last few years, 2 sides that don't seem to agree on anything....the deadline is past..... 2 weeks later a new deal is confirm for a short time period.

That's true, but this isn't something nebulous like the Federal Government. This is their money for their kids college. It's pretty direct. If the college is being discussed for closing doors, I just don't know how you pull the trigger on that kind of investment. Frankly, I'm not sure how they got anyone to agree to enroll as a freshman this year. There's no way I'm letting my kid go. Now if you are a junior or senior I get it. You are hoping that it all works out so you can graduate without the sloppy mess of transferring and leaving friends behind. That I understand. But enrolling for the class of 2027? There was no way I would let my kid do that last spring. Too much risk. Especially relying on the Alabama State Government. But maybe that's because I live here and think the vast majority of those people are useless idiots.

[BSCpanthers]

It's been on the news, almost every night for the last couple weeks.  The freshman class is very small this year, mostly made up of athletes that wanted their opportunity and believed the issue had been put to rest.  As for the upper class men, they are just hoping to be able to graduate then will support from the good side of this mess. 

We really are at a point where something has to be decided so kids can get enrolled for spring semester at other schools if needed, if they still can. 

[jknezek]

I'd imagine they will get a teach out arrangement. Montevallo would probably get on board with that.

[BSCpanthers]

Mayor of Birmingham has come out on strong support of BSC.  It's a great article listing out the positives and need for keeping BSC alive and support for the loan.

https://www.al.com/opinion/2023/10/randall-woodfin-more-than-ever-birmingham-cant-afford-to-lose-birmingham-southern-college.html

[Ron Boerger]

I'd imagine they will get a teach out arrangement. Montevallo would probably get on board with that.

One of the stories last week said contingency planning involved ensuring current students had a path elsewhere should that become necessary.

[Cowboy2]

I'd imagine they will get a teach out arrangement. Montevallo would probably get on board with that.

I always wondered how this would work for the current students and former grads. If the doors close and there isn't a merger or someone absorbing BSC into their system, how the transfer program would work if no one is there to help issue transcripts etc, or if someone is looking to go to higher education, or an employer is requesting sealed transcripts.

[Ralph Turner]

I appreciate the  news coverage on the B-SC situation that posters have presented.

What I have not seen is a strong defense by a BSC consultant or an impartial third party that rebuts the State Treasurer's assertion that the plan which BSC submitted was indeed workable and offered quite favorable terms to investors or to the state treasury.

Nor have we seen leadership from the chair of the BSC proclaiming the soundness of the loan payback schedule. I think that the Board has failed the BSC family, both past and present.

[BSCpanthers]

The president has stated that they their plan does include a detailed payback plan that is complete.  Unfortunately, we only have a he said/he said situation.  No where have I seen where the application details have been published for anyone to see. 

[jknezek]

I don't think there was a solid plan. As I put above, the school wanted/needed a grant. The loan was a last compromise.

I don't think it was ever feasible to pay back. I suspect B-SC basically wanted the loan so they could stay open and hopefully go fundraise. And if it worked where they were cashflow positive maybe they made token payments forever to the state or maybe they found some political backing to have it forgiven eventually. But the loan was, literally, a last chance worst option just to keep doors open long enough to say they had support to make fundraising viable and keep tuition coming in.

I doubt there was ever a logical, believable plan for them to pay it back. I suspect they submitted a wishful thinking plan, assuming the legislation was a rubber stamp, and the Treasurer, who hated everything about this, blew it up. One word in the legislation gave him the ability, and he took it.

[cush]

If BSC could collect 1/3 of the $45 million it says has been pledged for awhile that should buy them at least another year of operation to further fundraise. They could also try to go back to the state legislature but I suspect the governor is also against any state aid so she probably would veto anything passed next spring. Unless some super rich person or foundation decides at the last minute to make a huge donation, BSC future looks grim. Those people and foundations sure do love to give money to schools that don't need money but that's life.  The best bet is a merger to keep the campus functioning but there aren't too many options. I wonder if miles would just switch campuses but that still would result in a vacant campus. I don't really see the BSC being vacant so somebody is going to buy it and run some type of school at its location. Ideally that school would be a 1500 student D3 institution

[jknezek]

If BSC could collect 1/3 the $45 million it says has been pledged for awhile that should buy them at least another year of operation to further fundraise. They could also try to go back to the state legislature but I suspect the governor is also against any state aid so she probably would veto anything passed next spring.

Only if they were fully released funds for the operating budget, which donations almost never are. They are likely endowment contributions.

[BSCpanthers]

BSC has now asked the city if Birmingham to help, which I think they will get more help from the city then they would from the state.  The city understands exactly what BSC does for Birmingham and the neighborhood that it sits in.  Hopefully, if the city steps up, it will propel the state into also stepping up. 

https://www.cbs42.com/news/birmingham-southern-college-seeks-financial-help-from-the-city/

We aren't dead yet, just hope this is a good sign of things to come.  BSC needs to offer Birmingham City School students scholarship opportunities for this. 

[jknezek]

BSC has now asked the city if Birmingham to help, which I think they will get more help from the city then they would from the state.  The city understands exactly what BSC does for Birmingham and the neighborhood that it sits in.  Hopefully, if the city steps up, it will propel the state into also stepping up. 

https://www.cbs42.com/news/birmingham-southern-college-seeks-financial-help-from-the-city/

We aren't dead yet, just hope this is a good sign of things to come.  BSC needs to offer Birmingham City School students scholarship opportunities for this.

No. I'm pretty sure B-SC is dead. Someone just keeps putting the paddles on hoping to find a jolt that can bring it back to life. I hope they find a way to finish out the school year, but if I was anyone but a senior, I would have all my transfer paperwork done and submitted to multiple schools by now for Spring Term if possible, Fall 2024 at worst. No way I'm coming back to go through another year of will they/won't they b.s. At this point, I think B-SC is doing a disservice to the student body by not having an answer.

They've already asking Birmingham for money, it was part of the original bridge funding proposal. They asked Birmingham for a pittance and couldn't get a commitment. Now they need a lot more than a pittance.

[Ron Boerger]

BSC has now asked the city if Birmingham to help, which I think they will get more help from the city then they would from the state.  The city understands exactly what BSC does for Birmingham and the neighborhood that it sits in.  Hopefully, if the city steps up, it will propel the state into also stepping up. 

https://www.cbs42.com/news/birmingham-southern-college-seeks-financial-help-from-the-city/

We aren't dead yet, just hope this is a good sign of things to come.  BSC needs to offer Birmingham City School students scholarship opportunities for this.

No. I'm pretty sure B-SC is dead. Someone just keeps putting the paddles on hoping to find a jolt that can bring it back to life. I hope they find a way to finish out the school year, but if I was anyone but a senior, I would have all my transfer paperwork done and submitted to multiple schools by now for Spring Term if possible, Fall 2024 at worst. No way I'm coming back to go through another year of will they/won't they b.s. At this point, I think B-SC is doing a disservice to the student body by not having an answer.

They've already asking Birmingham for money, it was part of the original bridge funding proposal. They asked Birmingham for a pittance and couldn't get a commitment. Now they need a lot more than a pittance.

And this story specifically says only "the school could get the money it needs to remain open for the remainder of the fall semester."