Madison Dunphy, [email protected] | The Sun Chronicle
Wheaton College in Norton will make major cuts in the coming year in response to the lasting effects of the pandemic and the delay in the FAFSA, among other challenges, according to its president.
By July 1, Wheaton will eliminate the college contribution component of retirement and there will not be a one-time cash stipend or an increase to base pay. There will also be staff reductions, Wheaton President Michaele Whelan said in an email Monday to college staff and faculty.
While the number of positions is unclear, there will be some vacant roles, she said.
The decision comes in what Whelan says is a challenging time for the liberal arts institution which faces a significant deficit and declining enrollment as well as "a time of heightened uncertainty and financial pressure within the higher education landscape."
The most recent measures follow a May 16 board of trustees meeting "in which a new stage of their financial bridge plan was approved that necessitates significantly reducing their deficit this coming year by $4.5 million and by $3 million the following year," Whelan said in the email.
Further affecting these decisions is the reality that families are grappling with financial insecurity and public universities and other institutions are expanding free or reduced tuition programs, she said.
The ongoing uncertainty surrounding international regulations and federal financial aid has rippled throughout higher education and affected enrollment.
Wheaton anticipates that its fall enrollment numbers will be lower than originally projected for the coming year, which will result in a significant increase to their deficit.
They also expect the cost of health benefits to increase as of Jan. 1, 2026, which would have to be covered.
Over the past three years, Wheaton has already taken steps to better align with their financial position with current and future challenges.
They have reduced expenses by $4 million while still preserving jobs and increasing new programs and initiatives, Whelan said.
Since fiscal 2022, they have added $3.9 million for increase in faculty and staff salaries and found operational efficiencies across all divisions as they seek new ways to manage resources responsibly, she said.
But even with their recent fundraising campaign securing commitments totaling $62 million, Whelan said these upcoming actions are required.