New reports suggest that social justice haven Oberlin College is facing a myriad of financial issues.
Oberlin College in Ohio is notorious for its over-emphasis on social justice politics. It’s the alma mater of social justice icon Lena Dunham, who once published an art video that celebrated the “extinction of white men.” In 2015, Oberlin students accused their school of “cultural appropriation” over accuracy issues with certain cultural dishes that were offered in the dining hall. In December 2017, a local business claimed that Oberlin administrators slandered them by calling them racist for prosecuting alleged shoplifters.
Now, Oberlin College is facing “negative” ratings from credit agencies. At the end of June, the Bond Buyer reported that Oberlin was facing financial issues as a result of decreased enrollment.
Oberlin College saw its outlook reduced to negative from stable because of declining enrollment and weaker financial performance.
S&P Global Ratings changed the outlook on its AA rating for the private liberal arts college in Ohio Thursday and said that any further weakening in the school’s finances and failure to return to historical operating performance could pressure the rating on $200 million of debt. The school has no current plans to increase its debt.
“Oberlin has been facing what we consider enrollment softening for the past few years which has only recently increased to a materially significant level,” Ashley Ramchandani, S&P’s primary credit analyst on Oberlin College. “The declines are attributable to a number of factors, including changes to the college’s recruitment practices and transition to a new VP of Enrollment upon the retirement of the former VP of Enrollment in August 2017.”
Oberlin says that they have met their enrollment goals for their incoming freshman class. It remains unclear if the upswing in enrollment will help Oberlin solve their financial woes. But if the University of Missouri, which has faced continued budgetary and enrollment issues following 2015 protests, serves as any measure, prospective students are often turned off by social justice craziness.