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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Still haven’t seen any evidence this is hurting Oberlin in terms of applications, ranking, employment for graduates, etc.  [/quote]

Nor its endowment which surpassed 1 billion in 2021--very healthy for a small liberal arts college.[/quote]

Oberlin was running deficits  *before* the litigation.

And for those blaming people here for not letting this matter rest, Oberlin itself has chosen to prolong litigation in an attempt to put a family-owned bakery out of business rather than admit wrongdoing and apologize. They could have easily made this go away five years ago, if they had just admitted their mistake.

https://www.insidehighered.com/news/2019/04/18/amid-budget-deficits-and-unfavorable-demographics-oberlin-pushes-do-more-less

Like many other small private colleges, Oberlin faces challenging financial times ahead. In addition to structural deficits that could last several years if unaddressed, Ambar said, Oberlin is confronting the reality of smaller numbers of high school graduates in the Northeast that puts it at a distinct disadvantage, since unlike many larger colleges, it primarily serves traditional-age students.

The extra revenue from more liberal arts students can’t come fast enough. Last June, the board approved a $160 million budget that included a projected $4.7 million deficit. Without making cuts, the college’s deficit could have been as high as $9 million this year, an "unsustainable" figure that would hamper Oberlin's ability to offer financial aid "and to invest in our faculty, staff and campus," college officials said in an open letter to campus.

Ambar, along with Chris Canavan, Oberlin’s board chair, and Chesley Maddox-Dorsey, the vice chair, said the college last year raised enrollment. "But we’ve also had to contribute more financial aid, so the net revenue gain from improved enrollment has been modest. In other words, we are exhausting our pricing power," they wrote.

For new students, fall 2019 tuition and fees, along with room and board, are expected to be $73,694.

Raising tuition, they said, "only increases the demand for financial aid. It also adds to the financial strains on our students and their families, making it harder for us to keep them at Oberlin from the day they matriculate to the day they graduate. This weighs heavily on Oberlin’s finances."

The college has said that if it doesn’t trim expenses, Oberlin’s deficit could reach $162 million within a decade. It relies on net student income for 83 percent of operating revenue.

In its most recent audited financial statement, Oberlin said 97 employees took voluntary buyouts in 2016, with another 17 in 2018. It reported $184 million of outstanding bonded debt.

With an $887.4 million endowment last year, 186-year-old Oberlin is wealthier than most small private institutions, but far behind its wealthier peers -- colleges like Amherst, Swarthmore and Wellesley all reported endowments at or near $2 billion. For the past few years, Oberlin has drawn about 5 percent of its endowment for operating expenses, a standard distribution. Last year, that amounted to about $44.1 million.[/quote]

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