Birmingham Southern College (BSC) is probably going to close after Alabama Treasurer Young Boozer made the determination that the college is a bad credit risk and, therefore, refused to give the small liberal arts private college a bridge loan to keep its doors open last month.
Congressmembers Robert Aderholt (R-AL04) and Terri Sewell (D-AL07) penned a joint editorial with the Alabama Medical Group arguing that keeping the failing liberal arts college open is good for Birmingham.
“Although we represent different districts and different political parties in the U.S. House of Representatives, there are times that we agree when it comes to what’s best for Alabama,” Aderholt and Sewell wrote. “This is one of those times.”
BSC is in Sewell’s district where the loss of 284 jobs would be keenly felt; while Aderholt is an alum of the school – as is his wife, Caroline.
“When it comes to what is best for Alabama, we agree that keeping this 167-year-old college open and helping it achieve financial stability makes the list,” Aderholt and Sewell wrote. “We were glad when the Alabama Legislature passed SB278, which established the Distressed Institutions of Higher Learning Revolving Loan Program. Because Alabama had a once-in-a-generation, $2.8B surplus in the Education Trust Fund, setting aside $30 million for the loan program was accomplished without reduction to state-supported institutions. This was and is a great use of a small fraction of that surplus, giving BSC the operating capital it needs while it raises private funds to restore its endowment to a level that will sustain the College going forward.”
“Without BSC, young people who want what BSC offers – a small, residential, nationally ranked college in a big Alabama city – will have to go elsewhere. And once they leave, they may not return,” Aderholt and Sewell wrote. “Alabama residents make up 60 percent of BSC’s student body. Half of BSC’s 17,000 graduates remain in Alabama, where their impact is seen and felt in every walk of life in every one of our 67 counties. We strongly urge Treasurer Boozer to rethink his decision to deny the bridge loan that was designed for this very situation: To help out a college or university in Alabama that brings significant value to its community, has been in business for more than 50 years, has assets sufficient to back the state’s loan, and has a solid plan for paying it back.”
On Friday, BSC President Daniel Coleman insisted that the College would have enough money to finish out the academic year meaning that current students do not need to transfer as there will be a spring semester.
“On August 15, the Birmingham City Council passed a resolution that charged Mayor Randall Woodfin with creating an economic development plan of up to $5 million to support Birmingham-Southern College,” Coleman wrote. “Since then, we have continued to work with Mayor Woodfin, who will formally present his plan to the Council on November 21. We are grateful to him and to the Council for their consideration of this critically important support.”
“These developments give us confidence that, at a minimum, we will complete the academic year, during which we will continue to procure funds that will stabilize the College for the long term,” Coleman insisted. “That includes working with the Alabama Legislature, private donors, and other entities. Students, you should register for spring 2024 classes and continue with your plans for the January E-Term.”
Montgomery Circuit Judge James Anderson dismissed BSC’s lawsuit attempting to compel Boozer to give them the loan.
BSC has been in a long decline and today has fewer than 750 students.
To connect with the author of this story or to comment, email brandonmreporter@gmail.com.
