NEWS
The Great Resignation and Gettysburg’s Financial Situation Introduction
BY NICOLE DEJACIMO // MANAGING EDITOR
T
he COVID-19 pandemic, an overall decline in enrollment and mass resignations have all contributed to Gettysburg College’s recent financial challenges. In 2021, Gettysburg College ran a $6.7 million deficit caused by a significant decrease in operating revenue. At the same time, net assets grew by $79 million, $75 million of which came from growth in endowment investments, according to the 2021-22 Factbook. Additionally, Gettysburg is facing significant staff shortages,
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particularly in dining services. Gettysburg’s deficit mirrors a decrease in revenue for many liberal arts colleges throughout the North East since the onset of the COVID-19 pandemic. Bloomfield College in New Jersey, among others, risks closing its doors to prospective students. Other institutions have merged with or been bought by larger universities. Boston College, for example, recently bought Pine Manor College in Massachusetts. The National Student Clearing House reported that one million fewer students are enrolled in a college or university relative to before the pandemic. According
to the 2021 Fact Book, 17.8% of accepted students enrolled at Gettysburg College. That has steadily declined since 2012, when 34% of accepted students decided to enroll. To counteract this, the College admits a higher rate of applicants, increasing the acceptance rate. In 2018, Gettysburg admitted 45.4% of applicants; in 2021, the College admitted 56.3%. According to Executive Director of Communications & Marketing Jamie Yates, the College plans to purposefully decrease the future student population, lowering the admissions rate and guaranteeing on-campus housing for all students.
P H O T O B Y L U C A E S PA Ñ A
