Alverno College Reaffirms Commitment to Educational Mission and Restoring Financial Stability

Alverno College’s Board of Trustees voted to declare financial exigency after a thorough analysis. This declaration is a proactive measure to restore financial stability and secure Alverno College’s financial future. The Trustees also reaffirmed their commitment to Alverno’s educational mission, purpose and sustainability. In addition, they approved a restructuring of Alverno’s academic majors and programs and approved the budget for the coming fiscal year.

"While these are challenging times for Alverno and other higher education institutions in Wisconsin, we believe declaring financial exigency will ultimately position Alverno College for a more financially sustainable future,” said Kathy Hudson, chair of the Board of Trustees at Alverno College. “We remain dedicated to providing students a transformational education experience.”

The restructuring plan will realign Alverno’s 43 undergraduate majors down to 29 majors and 25 graduate programs down to 19 programs to focus on student demand and community needs. The specific programs that remain can be found here and include areas of study aligned with Alverno’s reputational strengths and teaching excellence, Nursing, Education, Psychology and Social Work, Business, Communication, Sciences, and Integrated Studies. One athletic program, track and field, will also be discontinued.

At the undergraduate level, all current students will be able to complete their undergraduate studies at Alverno College. At the graduate level, three majors will be impacted, affecting 25 graduate students. Alverno is pursuing teach-out arrangements with other academic institutions that will allow students to complete their graduate studies. Details about the program consolidation can be found here.

As part of the academic program restructure and other cost-containment measures, Alverno will reduce 25 full-time faculty positions, 12 full-time staff positions in addition to combining and restructuring departments to increase college efficiencies.

“These are difficult decisions to make, and we regret the impact these cuts will have on our colleagues; however, these actions are necessary as we forge a path forward that safeguards Alverno’s survival, preserves our accreditation, and retains our academic integrity,” said Christy Brown, JD, president of Alverno College. “Moving forward, we will continue to invest in and support areas of growth that will be identified by our community of gifted faculty and staff.”

A Vital Asset to Milwaukee Region

Alverno serves undergraduate women whose academic and professional success are critical to their families' futures and the Milwaukee region’s many businesses and organizations. Nearly 70% of Alverno’s incoming undergraduate students are first-generation college students. Almost all full-time students receive scholarships or other forms of financial aid. For example, 62% of Alverno’s incoming undergraduate students are Pell Grant eligible compared to the national average of 34%. Nearly 60% of students represent racially or ethnically diverse groups. As of late 2023, more than 1,100 Alverno alums were employed by Milwaukee’s top companies and 70% of Alverno graduates live and work in Wisconsin.

“We see the value and potential of these women to Milwaukee’s economic and social well-being. This is why the long-term sustainability of Alverno is imperative to our region,” Brown explained. “We know overcoming these financial challenges will not be easy, but we will work tirelessly to minimize the impact on our Alverno community while ensuring our educational mission remains intact.”

About Alverno College

Based in Milwaukee, Wis., Alverno College is a four-year independent, Catholic, liberal arts college for women. Founded in 1887 by the School Sisters of St. Francis, Alverno promotes the academic, personal and professional development of its students in a collaborative and inclusive environment. Certificate programs, digital badges, degree completion programs and graduate programs are open to all genders. A leader in higher education innovation, Alverno has earned international accolades for its highly effective ability-based, assessment-as-learning approach to education, which emphasizes hands-on experience and develops in-demand skills. The college, Wisconsin’s first Hispanic-Serving Institution, ranks among the top schools in the Midwest for its commitment to undergraduate teaching and innovation by U.S. News & World Report.

Financial Exigency:

Veteran college presidents Charles M. Ambrose and Michael T. Nietzel cite the advantages of financial exigency in their new book, Colleges on the Brink: The Case for Financial Exigency (Rowman & Littlefield), noting it’s “survivable when done in the right manner, and it offers the most severely stressed colleges a way back from the brink as they become leaner and more fiscally stable, ready to provide the education that students and society need.”

Nietzel most recently served as chancellor of Henderson State University, one of nearly a dozen universities and colleges that remain open today after declaring exigency and implementing other cost-containment measures.