This book is about the serious financial struggles that an increasing number of colleges are facing in the post-pandemic era and what can be done to help resolve them. The tools described - including the extreme measures associated with financial exigency - can be used to change the ways colleges spend their money while still maintaining the academic values most institutions want to honor. This book highlight the major financial headwinds facing American higher education and why those headwinds may be stronger than at earlier points in history. The authors discuss financial exigency and several of its close counterparts or "near exigencies" when institutions undergo large-scale reorganizations or budget resets to reduce their expenses. They outline the conditions that give rise to the need for major financial overhauls, and discuss the steps that can maximize the likelihood they'll help institutions regain their financial health. The challenge these colleges face is to build a road back from that brink and become better institutions that are leaner, more financially stable, and ready to provide the education that students and society need. This book offers a road back, albeit a hard one, but one that is navigable by the resourceful colleges and universities that remain one of America's greatest assets.
Michael Nietzel served as President of Missouri State University from 2005-2010. Prior to that, he was at the University of Kentucky, where he served in various leadership roles, including Dean of the Graduate School and Provost. After his retirement from Missouri State, Nietzel served as senior policy advisor to Missouri Governor Jay Nixon and was later the Deputy Director of the Missouri Department of Mental Health. Since 2019, he has been a Senior Contributor to Forbes online, writing about higher education. Charles M. Ambrose is a senior consultant for higher education strategy with the law firm of Husch Blackwell. He has served as a University President, Chancellor and Non-Profit CEO at: Pfeiffer University (1998-2010); University of Central Missouri (2010-2018); the KnowledgeWorks Foundation (2018-2021); and, Henderson State University (2021-2023). He also served in senior administrative positions at Carson-Newman College, Western Carolina University, and the American Association of State Colleges and Universities. He has held leadership positions with the Missouri Council on Public Higher Education, the National Collegiate Athletic Association; Midwestern Higher Education Compact, and the Association of Governing Boards. He serves on Furman University's Board of Trustees and is a journal reviewer for Innovations in Higher Education.
