College business officers see bleak financial outlook

College financial leaders are losing faith in their schools’ long-term economic outlook, and nearly half of those at public campuses expect things to worsen next year, a survey has found.

The trade publication Inside Higher Ed and Hanover Research surveyed 219 chief business officers at public, private nonprofit and for-profit campuses. Officials planned to present the results of the annual poll Sunday at the annual meeting of the National Association of College and University Business Officers. Among those surveyed, 36% of all higher education CBOs and 47% of those working at public colleges and universities said they expect their financial condition to deteriorate in the coming school year.

By comparison, just 22% of college and university presidents said the same in a survey that Inside Higher Ed released in April, the publication noted.

An additional one-fifth of CBOs responding to the latest poll said they lack confidence in their schools’ 10-year financial outlook.