Statement about Alderson Broaddus University provisional reauthorization
Charleston, WV – The Higher Education Policy Commission in a special meeting today voted to provisionally reauthorize Alderson Broaddus University through June 30, 2024, with the right to reconsider that provisional reauthorization, at any point, if the institution does not meet the State’s criteria for financial stability.
In the interest of student consumer protection, the Commission is requiring that Alderson Broaddus by October 1 have in place plans for teach-out or transfer of currently enrolled students, in addition to ensuring student transcripts and financial aid records are secured with a third-party.
Alderson Broaddus also will be required to provide financial and operational information upon request by the Chancellor of Higher Education, in addition to monthly reports to the Vice Chancellor for Finance.
The Commission’s resolution states:
“We continue to have concerns about the financial viability of this institution. However, we would like to give the new leadership team time to possibly turn the ship around. To that end, we are
Resolved, That the West Virginia Higher Education Policy Commission provisionally reauthorizes Alderson Broaddus University through June 30, 2024.
Further Resolved, That the Commission authorizes the Chancellor to enter an order directing the steps Alderson Broaddus University must take to remain provisionally reauthorized, including, but not limited to:
- Submitting to the Vice Chancellor for Academic Affairs by October 1, 2023, appropriate plans related to the teach-out and/or transfer of currently enrolled students;
- Making arrangements to secure transcripts and financial aid records with a third party;
- Submitting monthly to the Vice Chancellor for Finance and Facilities information showing financial performance and operational stability, including actual monies received and actual funds raised through fundraising efforts;
- Cooperating with and participating in any site visits requested by the Chancellor or her designee; and
- Providing any other information or performing any other action requested by the Chancellor.
We reserve the right to reconsider this provisional reauthorization at any point that the institution’s financial stability does not meet the State’s criteria.”
VIDEO OF TODAY’S MEETING: https://www.youtube.com/watch?v=AXDJtMfVkHg
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