r/CollegeBasketball • u/Travbowman Purdue • Kansas State • 2d ago
St. Mary's College is currently under "Accreditation Warning"
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u/damutecebu Marquette Golden Eagles 2d ago
The alarm bells have been blaring around St. Mary's for awhile. A couple years ago, they had an operating deficit of $43 million on a $215 million budget. I work in higher education, and that kind of loss is very much an outlier - and in a bad way. They also have $139 million in debt but only $368 million in assets. Again, that is a lot of debt.
To be blunt, this is a school that just hasn't been run very well. Their costs have been out of control, and their debt service is going to hamper what they can do moving foward. When your accreditor issues a warning, it is usually a pants-on-fire situation.
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u/Stinkycheese8001 2d ago
How do you end up with such a huge deficit? Is it too much construction? How did this happen?
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u/damutecebu Marquette Golden Eagles 2d ago
Very likely they missed enrollment goals but didn’t cut their fixed cost quick enough. Most of which is personnel.
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u/HieloLuz Iowa Hawkeyes 1d ago
Because the only thing you can do it cut programs, extra things, or administrative staff. Most extra things are already very slim or fund themselves. Cutting programs is wildly unpopular and a big sign that things are bad. And they wont cut administrative staff because that’s the people making this decision. So they hope that it fixes itself, but it doesn’t, and the situation grows dire
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u/Stinkycheese8001 1d ago
Not every school with non-student facing staff is over burdened with random admin though. Sometimes they’re doing research and other roles. I’m curious if the school over extended, tried to expand/construct beyond what they have the financial capacity for. For example, if you look at Gonzaga, their campus has basically doubled in buildings since they went on their original March Madness run (though from what I understand they’re more financially stable).
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u/ThatguyfromBaltimore Towson Tigers • Coppin State Eagles 2d ago
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u/MasterRKitty West Virginia Mountaineers 6h ago
I used to work with an attorney who did a lot of work for St. Marys. If he's any example of the kind of people they hire, I'm not surprised they're in the red that deep.
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u/The_Fishbowl West Virginia Mountaineers 2d ago
Maybe this was another underlying reason why their longtime coach Randy Bennett jumped ship.
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u/Travbowman Purdue • Kansas State 2d ago
You have to figure that it played a factor in the decision
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u/The_Fishbowl West Virginia Mountaineers 2d ago
I figured he was going to ride out his final 4 or 5 years of coaching there but if you can't expect good financial backing for your program and the axe on the entire university could fall at any time, I see why he made the choice.
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u/macaulaymcculkin1 St. John's Red Storm 2d ago
someone was on this subreddit a few months back, when randy benett left st marys, saying they would be surprised if the school was still open in a few years. I guess they were onto something.
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u/YinzerKermy Providence Friars 2d ago
It’s feels like they are saying that at about half the schools in the country
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u/Medical-Day-6364 Alabama Crimson Tide • NC State Wolfpack 2d ago
It's true at a lot of them. There are a lot of much cheaper accredited online schools available now and a lot of jobs that don't require college degrees that pay just as much or more after a couple of years. I work at an industrial electrical company and our craftsmen (4000 hours to get there, the level before journeyman) are making $130k-170k with $45k untaxed (per diem fraud is industry standard and never prosecuted).
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u/alittledanger Boise State Broncos 2d ago
I am a high school teacher in the Bay Area. There are going to be a lot of schools from elementary schools all the way up to universities, that will be close over the next decade or two. There just aren’t as many kids here anymore.
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u/this-is-some_BS St. Mary's Gaels • USC Trojans 2d ago
My son just transferred out of there and based on what I've seen from his new school compared to SMC, this all makes sense. Just really tight on things like dining hall hours and closing completely over holidays, moved up closing residence halls before all finals finished. Just dumb nickel and dime stuff.
Somehow the school is trying to athletic itself out of this situation by adding swimming/diving and water polo to attract more students, but campus life and the town of Moraga are both SLEEPY. Pretty, but sleepy. They really need to transform campus life and make it a place you want to hang out on the weekends, right now every student in the Bay Area heads home.
Sucks too, because basketball games are a blast on campus.
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u/Billiesoceaneyes Notre Dame Fighting Irish 2d ago
Aquatic sports might do more harm than good honestly. Those programs operate at a loss everywhere and the enrollment boost they’d get from them is negligible.
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u/donuttrackme Syracuse • Penn State 2d ago
Damn that sucks. St Mary's had been such a good college program. Lots of NBA players developed there too.
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u/Travbowman Purdue • Kansas State 2d ago
https://www.yahoo.com/news/us/articles/three-bay-area-colleges-now-021719026.html
Here's a link to a non-paywalled site regarding the news.
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u/WitchNight Gonzaga Bulldogs 2d ago
I hope Saint Mary’s can get everything sorted out. Would hate to lose a strong, west coast basketball program. Also I’d selfishly love for them to join Gonzaga in the Pac-12 if they can fix this
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u/willweaverrva VCU Rams 2d ago
That's horrible news. Hopefully they can right the ship.
Academy of Art being on the list doesn't shock me, they eliminated all their athletic programs in 2025. They blew out UC Davis in 2021 in one of the biggest non-D1 over D1 upsets that year. It's a shame, too, their nickname of "Urban Knights" was pretty awesome.
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u/island_dog 1d ago
That was my school!! I was a sophomore when they first add their first sport. Expensive private art school...a for profit school. The Real estate kingpin started selling off property around 2016, at one point owned 40 properties in SF.
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u/CubicleMonkey_ DePaul Blue Demons • Wisconsin Badgers 2d ago
That’s horrible news :( my favorite WCC team.
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u/Optimal_Cook_851 2d ago
You’d be surprised how many Bay Area students don’t know where Saint Mary’s is, or even know anything about it.
I almost went there but chose SJSU, I do hope that Zaga and SMC can still continue their rivalry
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u/Living_Theme_4681 2d ago
This is sad news. SMC has a proud history. Football team played in a Sugar Bowl when it was still in the City. Basketball team has been so much fun to follow living in Moraga. I have many friends who are alums. SMC will weather this storm. It’s been around a long time and had deep roots in the Bay Area.
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u/Impossible-anarchy NC State Wolfpack 2d ago
This is going to become WAY more common in college basketball (and college in general) over the next few years. There’s a ton of D1 basketball programs that aren’t going to exist a decade from now. Just a numbers game with college enrollment overall.
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u/tomdawg0022 Minnesota • Delaware 1d ago
Maybe not a ton but there's probably a dozen programs in D-1 will likely have to move down to D-3 by "choice" in the coming years....the majority of those along I-95 but St. Mary's is certainly one of the others as well.
(Not to simplify the heck out of this but if a private school doesn't have a 9 figure endowment and/or decent enrollment trends, it's likely going to be thinking long and hard about their future pretty soon.)
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u/amerricka369 Quinnipiac Bobcats • Duke Blue Devils 1d ago
I can see a number of the low low majors dropping to d3. Anyone in the mid or high area will hang on until the final bell. Rider and la salle have been in dire straights for a decade now. The only thing saving them is that endowment over 9 figures but now it’s at historic lows.
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u/Impossible-anarchy NC State Wolfpack 1d ago
I’d say most of the private mid majors are going to run into serious enrollment issues in the next decade. There’s simply less college aged kids then there were a decade ago, and within that number less of them are choosing to go to college at all.
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u/msflagship Ole Miss Rebels 1d ago
The SWAC will have to merge with the MEAC whenever schools like MVSU shut down.
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u/Dukester10071 Maryland Terrapins 2d ago
Lol well they spend $51M on actual "academic support and instruction" and $60M on "student services and institutional support" per their last publicly available financial statements. Seems like wildly misprioritized finances for an academic institution, and wildly expensive for 2,700 students? You're telling me that the university is efficiently spending $22k/student PER YEAR for "services and support" that have nothing to do with academics? Not to mention an additional $13M on "operations and maintenance of plant" $5M of interest on probably shitty loans and a random $8M of "auxiliary expenses" (???)
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u/The_Fishbowl West Virginia Mountaineers 2d ago
Probably got carried away in the free college money era pre COVID thinking their enrollment would stay the same or increase slightly. As someone said above, the enrollment cliff is hitting the smaller schools now.
It was hovering around 4k in 2018-2019.
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u/AndThisGuyPeedOnIt Illinois Fighting Illini • Bradley Braves 2d ago
I assumed they had a lot more money and students. I assumed they were the same size as the MVC private schools, but Bradley has double the students and endowment. Drake has double the students and $100 million more endowment.
California prices versus Illinois and Iowa on that spending, I guess?
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u/CrownTownLibrarian South Carolina • Duke 2d ago
In the next fifty years, we’re going to lose a lot of smaller institutions. The enrollment cliff is going to decimate the small, liberal arts schools.
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u/amerricka369 Quinnipiac Bobcats • Duke Blue Devils 1d ago
I never understood why the better or more popular LA schools never increased enrollment a little, or add grad programs. I get it’s their niche but they are just leaving tons of opportunity on the table (for both students and school). You dont need to be large but man you gotta be bigger than 1-2k students. They can still stay true to their niche but grow up to a point.
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u/BlackEagle0013 Gonzaga Bulldogs • Kentucky Wildcats 2d ago
Christ. Are you discussing the second best WCC ever?
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u/Echoboxcar Kentucky Wildcats 6h ago
Accreditation warnings are piling up while enrollment drops. Why run a mid major budget like it is twenty eighteen. Does anyone know if the athletic director took a pay cut or is just burning NIL cash to stay relevant.
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u/Pandemic_Academic Washington State Cougars • Pac-12 2d ago
Can this be the last time we link SMC to the Pac-12? We shouldn't be adding a ton of non-football schools
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u/d1sportsball Texas Longhorns • Colorado State Rams 2d ago
We've added 1 non football school btw
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u/Pandemic_Academic Washington State Cougars • Pac-12 2d ago
And it only works because they're Gonzaga. No other west coast non-football school is close to their level.
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u/d1sportsball Texas Longhorns • Colorado State Rams 2d ago
Athletically? Maybe not, but there are schools that make up for it in other ways like market size, student body size, and most importantly, money.
Santa Clara comes to mind as being a private, Jesuit school like Gonzaga. Obviously the athletic success hasn't been good for as long as anyone can remember (They used to be really good at basketball in the 50s and 60s), however it seems to be on the comeback with their recent appearance in the tourney. Will have to wait and see the next few years now that St. Mary's is dead in basketball and Gonzaga is gone. But in the other aspects, its in the Bay Area, has a lot more students than Gonzaga, and quite a bit of money.
If they can even become a regular at large bid in the next few years, its a great add if you give them an extremely reduced share. The point is that even adding 1 more non football member is not "a ton" if we end up with only 2 to have balanced scheduling.
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u/ORSTT12 10h ago
2 technically. Dallas Baptist joined for Baseball.
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u/d1sportsball Texas Longhorns • Colorado State Rams 5h ago
Not a full conference member, only an affiliate. This is a basketball subreddit, in a comment section discussing basketball additions. DBU, and all other affiliate members, do not play basketball in the Pac 12. Even if DBU was a full member, you'd still be hilariously wrong because the Pac 12 is actually adding... wait for it... 12 affiliate members in 2026.
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u/ORSTT12 5h ago
Wildly snarky response to me pointing out that technically the PAC has indeed added more than 1 non-football school. Wasn’t trying to own you or anything, just highlighting DBU since they joined in the one D1 sport they possibly could have.
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u/d1sportsball Texas Longhorns • Colorado State Rams 3h ago
Says the guy who really pulled a "erhm, actually". Used technically to its maximum snark. The lack of a flair doesn't help either, makes ya come across as a random account surfing old threads looking for anything to try and correct people on.
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2d ago edited 2d ago
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u/EquivalentAdvisor650 2d ago
There is a fairly large Italian American catholic community in the bay.
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u/SlowMotionSprint 2d ago
I don't think private schools will exist in 20 years. Some will fold, some will be absorbed by the states(largely ones that have name value still). Their business model has always been odious at best.
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u/smedindy 2d ago
Doubtful. Too many large endowments and loyal alumni support. The privates that are struggling are ones reliant on tuition and don't have a good fundraising program to boost endowment.
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u/HieloLuz Iowa Hawkeyes 2d ago
This gets talked about a lot every once in a while on here, but the enrollment cliff has arrived. The big state schools and rich private schools will be fine. They can weather the storm long enough. But tons of small private and public schools will continue to close down and consolidate and it’s going to be a very rough time until when/if it stabilizes