Bloomfield College Facing Grim Future Without Financial Aid

BLOOMFIELD, NJ — The only four-year Minority Serving Institution in New Jersey is having crisis-level financial woes. And a long-running enrollment drop made worse by the coronavirus pandemic may be disastrous for the future of Bloomfield College, administrators say.

Earlier this week, officials made the unusual step of announcing the school’s financial troubles to the public. According to administrators, the 153-year-old college has been seeing a decade-long decline in enrollment – a serious problem because tuition is its primary source of revenue.

The enrollment drop has only gotten worse amid the pandemic, officials said. Bloomfield College isn’t alone; many small, private liberal arts colleges in the Northeast and across the country have been facing similar challenges.

Now, officials say they’re grasping at straws to try and find a way to save the college, which is New Jersey’s only Predominantly Black Institution and Hispanic Serving Institution. And there couldn’t be a better time for a local philanthropist to step up to the plate.

“By publicly announcing our situation, we hope to solicit interest from new potential strategic partners and philanthropic benefactors who are passionate about advancing opportunities for the underserved population we predominantly serve,” Bloomfield College President Marcheta Evans said at a Town Hall event on Monday.

“Most of our students work multiple jobs while studying and face much adversity,” Evans continued. “Segments of our student population suffer from food insecurity or homelessness, living in our residence halls year-round.”

Roughly 85 percent of Bloomfield College students are people of color, according to school officials. Nearly 71 percent are Pell Grant eligible, and the median family income is below $32,000. More than half of its students identify themselves as "first-generation," and are the first in their families to enroll in college.

Bloomfield College will be getting a boost from a $3 million federal grant that will help it recruit – and graduate – African American students. But more funds are needed before the school’s financial crisis is over.

• See related article: Bloomfield College Gets $3M Grant To Educate Black Students

Administrators said Bloomfield College has enough money to complete the 2021-2022 school year, but are uncertain if it can reopen next fall. Officials haven’t said whether they’re open to using the school’s endowment or borrowing against it to keep the campus open, NJ.com reported.

But according to Vernon Endo, chair of the Bloomfield College Board of Trustees, all the cards are still on the table at this point.

“The Board of Trustees and Bloomfield College’s administration are exploring all options to support our students and remain open in order to continue the college’s core mission,” Endo said Monday.

Bloomfield College serves about 1,300 students and offers more than 50 academic programs with include 22 majors and 22 minors, Division II athletics and co-curricular clubs and organizations.

SUPPORT FROM BLOOMFIELD MAYOR

Bloomfield Mayor Michael Venezia released a statement of support for the college on Friday. He wrote:

"Bloomfield College makes up a critical part of our township DNA and we are all deeply saddened and concerned to see the recent headlines citing their financial troubles. Their 153 year-long history of academic excellence is an asset to all of us. Bloomfield College is one of the most diverse colleges in the region and has helped so many students achieve their dreams. Unfortunately, the pandemic has made it increasingly difficult financially for small private colleges across the nation. I have personally reached out to President Evans to offer our support. We will do whatever we can to ensure that the college will continue to serve our community."

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