University Response to the National Economic Realities

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Additional Info

Message from President Barry H. Corey

Over the past months, the global and national economic crisis has been unsettling for so many. All of higher education is affected to one degree or another, and that includes Biola University.  Global economic conditions continue to present serious challenges, and most financial forecasts are anticipating this recession will continue for some time.

Despite all that is happening around us, Biola's financial position remains strong.  Though our endowment funds are not immune from the volatility of the economy, our losses have been minimal compared to the financial markets.  We as a community have much to be thankful for, including this Fall's enrollment which is the largest in our 100 year history.

Biola University will respond to the broader economic uncertainties in a wise, prudent and thoughtful way that reflects our commitment to biblical stewardship of the resources the Lord has entrusted to us. The economic crisis can become our finest hour as we position Biola University for long-term biblical leadership, as we refocus on the core areas of our strength and as we trust in a generous God for His help through challenging times. Through this, I believe a stronger Biola University will emerge. This is Biola's philosophy as we respond to the economic crisis.  

As we prepare for next semester and the 09/10 academic year, we do so with a sensitivity and responsiveness to the potential impact the economy is having on our students and their families, as well as the University itself. We neither want to overreact nor under prepare.  We care deeply about our students and are looking into every possibility to help them stay at Biola.  Below you will find a number of steps we are taking:

What Biola is doing

Student Economic Crisis Response Council

We have commissioned a team of representatives to find creative ways to assist those students who face imminent economic crisis affecting their ongoing enrollment.

7 Action Steps

  1. We will provide you, our students, with continued high levels of educational quality, even increasing that quality.

  2. We will set up a team of leaders who will listen to your concerns and to advise you and your families who may be really struggling on ways to help you complete your Biola education.

  3. We will forge ahead on our university priorities and strategic initiatives, focusing even more so on what we do well.

  4. We will exercise fiscal restraint making short and long-term budgetary decisions and appropriate cuts that will help us operate more effectively and prudently.

  5. We will work hard to preserve jobs within the Biola community.

  6. We will openly communicate planning and decisions…we cannot over-communicate nor can we under-prepare.

  7. We will pray with earnest and trust the Lord will honor and protect Biola as we maintain our strong biblical convictions.

Student Emergency Relief Fund

Through the Council's planning, this special fund has been established to assist students facing serious financial challenges as a direct result of the economic crisis.

To make a donation, click here or call 1 (800) 632-4652.

If you have questions about the fund, please email development@biola.edu.

Informational Events

We will hold two special evening events on Tuesday, December 9 at 8:00 and 10:00 pm in the cafeteria to answer questions from students whose future at Biola may be in jeopardy.

During my chapel message on Friday, December 5, I addressed Biola's response to the economic crisis. I encourage you to view the chapel message.

How you can help

You can make a direct impact on the future of a Biola student's education by giving a tax-deductible gift to a Student Emergency Relief Fund by December 31st.  Our aim is to help every student return for the spring semester and continue to be transformed by Biola's biblically centered education.  Your gift today - of any amount - will make that possible.

Also, please join us in prayer for our nation, for our University, and for our students.  We will contine to pray for you as well.

Final thoughts

I want to reaffirm that Biola University remains in a strong financial position, committed to prudent planning and careful stewardship.  God is good!  Let us be thankful for His sovereignty and encourage one another and stand together in confidence.  In Christ alone we place our trust.

Barry H. Corey
President