Southeastern Bible College suspends operations
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BIRMINGHAM, Ala. (June 1, 2017) – Southeastern Bible College (SEBC), a higher-education community that connects students who have a passion and call to ministry with an academically rigorous, biblically based learning environment, today announced that its Board of Trustees has voted to suspend operations, effective immediately. Upon the recent completion of an evaluation of SEBC’s financial resources, projected cash flows, strategic challenges and possible solutions to generate the funds needed to support operations, it was concluded that SEBC will not have sufficient resources to meet its obligations.
“The Board of Trustees reached the somber conclusion that the best course of action for our students, faculty and staff is to implement a significant operations reduction, using the resources remaining to support the transition for our community, while keeping hope alive for a future Southeastern Bible College,” said Alexander Granados, Th.M., Ph.D., president of SEBC. “At this time, we cannot provide a definitive timeframe for a potential reopening of the College, but we actively are working through the details that will determine how long the transition period will last.”
SEBC is in the process of submitting a teach-out plan to the Association for Biblical Higher Education (ABHE) Commission on Accreditation. SEBC will formalize an agreement with an academic institution that will help its students progress toward the completion of their degrees. In the interim, SEBC’s Board of Trustees is establishing a transition team that will determine the scope and duration of the transition period, and under what circumstances the transition period will end.
“The primary focus and desire of the Board of Trustees is to take care of the immediate needs of our students, faculty and staff,” said Dr. Michael W. Wesley, Sr., Chairman of the College’s Board of Trustees. “This summer, we will begin the process of looking toward the future of Southeastern Bible College, and are committed to maintaining a college that is bible- and Christ-centered and connected to our mission and the needs of the church and community; however, we must create a college that is financially sustainable and relevant for generations to come.”
Since April 2016, the Board of Trustees has been working on 2020 SABER Vision, a five-year strategic plan to achieve a balanced budget and transform SEBC. Unfortunately, many of the opportunities to generate funds and transform SEBC did not materialize.
From WIKI
https://en.wikipedia.org/wiki/Southeastern_Bible_College
Southeastern Bible College is a non-denominational college and attracts students from a broad range of Christian faiths, including Baptist, Methodist, Presbyterian, Church of God, Assemblies of God, and non-denominational churches.
I looked at the degree programs, and if one did not want to go into vocational ministry or teach elementary ed, there wasn’t much there. So it was really a traditional Bible college, but as Jim notes, without a dedicated constituency to hire its graduates. Not a good position even if you’ve got a good endowment.
Aspiring to be a stick in the mud.
What is succeeding: A school like Cedarville. Full programs & full accreditation. Also consider Liberty
It’s worth noting here that while big donors are very helpful, they won’t rescue a college that doesn’t find a viable market to serve. Northland had the Patz family and others, and Pillsbury had, of course, George Pillsbury. Millions of dollars of endowments are no defense against mismanagement. I’m sure that if I did a little more poking around, I’d find a lot more.
Aspiring to be a stick in the mud.
It’s worth noting that Maranatha Baptist University does not have a large endowment or deep pocket alums. It does, however, have legit accreditation for 20 years, a diverse course offering, and the vision to pursue distance ed before most. I figured I’d chime in on Tyler’s behalf and say it’s the best school out there! :)
It ruleth …
Tyler is a pastor in Olympia, WA and works in State government.
[pvawter]Maranatha Baptist University…does, however, have legit accreditation for 20 years,
……BJU will find out this month the decision on their application for regional accreditation:
“The Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) granted BJU regional accreditation candidacy status June 16, 2016. BJU completed the last major step in the multi-year process of pursuing regional accreditation by hosting a peer review by the accreditation committee last November. The committee conducted interviews with over 60 faculty, staff, administrators, students and Board members to verify that BJU meets SACSCOC standards such as quality instruction, support services to help students succeed and processes to ensure continual improvement.
As the final step, BJU will appear before the SACSCOC accreditation board in June [2017] and will learn at that time whether we will be granted regional accreditation.
Regional accreditation will benefit students in several ways. It will make it easier for them to transfer credits and be accepted at more graduate schools. It will show prospective employers that a BJU education meets highly acceptable standards. It could help students enter a profession where a regionally accredited degree and/or licensure is required, and it will continue to provide BJU students access to federal and some state financial aid if they meet the requirements.”
http://www.bju.edu/about/university-leadership/president/newsletter-03-2017.php#accreditation
[Joeb] I have to believe Liberty is around 30gs and Cedarville is got to be be in the low to mid 30 gs a year. Now compare that to my school of Drexel which is on the higher end it’s pushing 60 gs a year.
Liberty is around $33k depending on which dorm you choose (I have a good sense of this one since our son is going there in the fall!), and Cedarville is $36k.
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Greg Long, Ed.D. (SBTS)
Pastor of Adult Ministries
Grace Church, Des Moines, IA
Adjunct Instructor
School of Divinity
Liberty University
Joe, it turns out that most people who get large “windfall” inheritances actually do worse than those who don’t, according to The MIllionaire Next Door, by Stanley & Danko. So you didn’t do too bad. Limited means can work for character. And my take on all these schools is that one simply count the cost. If you’ve got the money for four years in Bible college, and it’s going to get you where you want to go in life, go for it. Limited means? GI bill or state school, work your way through if you can.
High end schools like the Ivy League? Really more about your connections than the education, kinda like fraternities.
And for those running schools? They’ve got to learn to think like prospective students, and the sad case here is that “very limited opportunities in exchange for four years of tuition without learning transferable skills” is an offer of rather limited appeal.
Aspiring to be a stick in the mud.
According to https://www.mbu.edu/finance/tuition-and-costs/ the annual cost to attend Maranatha is approx $20k.
Just attend virtually, and save $$ Or, get an AA from a community college, transfer in, and save $40 in tuition. Or, do four years and take virtual/online classes for free while in the service, with tuition assistance. The Navy used to cover up to 12 credits per year, free. Or, after you get out of the military, go to school and let the GI Bill pay for everything.
Tyler is a pastor in Olympia, WA and works in State government.
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