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George Mason University Law School Faces Projected $38M Deficit by 2025

George Mason University’s Antonin Scalia Law School is projected to experience a cumulative deficit of $38.3 million by fiscal year 2025. This financial forecast was presented to the university’s governing board during a recent meeting.

Enrollment Trends

Although there has been a reported 18.4% increase in enrollment for the fall semester, bringing the total to 116 students, this number represents a significant decline of 27% from 2022 and is less than half of the 259 students enrolled in fall 2021.

Financial Challenges

Internal memos regarding the school’s financial status indicate that the university plans to explore innovative strategies to improve the institution’s financial health. For fiscal year 2024, the law school reported a deficit of $7.8 million and anticipates an additional deficit of $13.2 million for 2025. These challenges follow a trend of annual losses ranging from $3 million to $5.8 million since fiscal year 2020.

Revenue and Expenses

In terms of revenue, tuition has decreased by approximately 5.8%, amounting to $23.5 million, while expenses have risen by over $1 million compared to the previous year. Projections for 2025 indicate a continued decline in tuition revenue.

Proposed Solutions

To mitigate these financial difficulties, a proposal has been put forth to forgive a $4 million loan over a period of three years and to allocate funds for tuition discounts and operational costs. This plan is contingent on the law school achieving financial break-even by the end of each fiscal year, enhancing revenue from sources outside of its Juris Doctor (J.D.) program, reducing operating expenses, and increasing fundraising efforts.

Autonomy and Donations

The memo further emphasized the law school’s significant autonomy in setting tuition rates—pending approval from the university board—and in determining admissions, enrollment targets, discounting strategies, curriculum, and facilities management. Recently, the school secured $7.6 million in donations, with $5.6 million allocated specifically for educational programs within its Law and Economics Center aimed at legal professionals.

Future Considerations

To effectively manage its financial challenges, the law school may require additional substantial donations to ensure operational stability in the future.

(Source: Higher Ed Dive)

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