Higher Learning Commission Removes Alverno College’s Financial Distress Designation

Milwaukee, (December 11, 2024) – Less than six months after the Alverno College Board of Trustees voted to declare financial exigency, the Higher Learning Commission (HLC) has removed the college’s “financial distress” designation, effective immediately. This result is the culmination of the dedicated work of the entire Alverno community to strengthen the college, as well as the unprecedented support from alums, donors and friends of Alverno.

In late November, the HLC conducted an advisory visit to determine whether Alverno “has the faculty and staff needed for effective, high-quality programs and student services” and whether “the institution’s resource base supports its educational offerings and its plans for maintaining and strengthening their quality in the future.” Based on a review of the advisory visit’s findings, the president of the HLC accepted the report and assigned routine monitoring.

“This is the best possible outcome for the college, as well as for our students, faculty and staff,” said Christy L. Brown, president of Alverno College. “Alverno continues to offer our students an excellent education while contributing to the growth of the Milwaukee area and beyond. We are grateful to faculty, staff and trustees who helped demonstrate our strength to the HLC.”

In June, the college took the proactive measure of declaring financial exigency to restore financial stability and secure Alverno College’s financial future. The result was a realignment of faculty, staff, and programs to focus on student demand and community needs. Since the declaration of financial exigency, the college has received a $10 million gift from John and Tashia Morgridge through the TOSA Foundation. Alverno also raised an additional $3 million, $1.5 million of which unlocked a matching gift from a group of anonymous donors, and received a six-year $1.9 million grant from the National Science Foundation, furthering the positive trajectory for the college.

“Alverno is in a stronger financial position than it was six months ago, and we will continue to make decisions that facilitate forward momentum and preserve a place for future generations of change-makers and leaders,” said Brown.

A Vital Asset to Milwaukee Region

Alverno serves undergraduate women whose academic and professional success supports the growth and advancement of greater Milwaukee businesses and nonprofit organizations. Nearly 70% of Alverno’s incoming undergraduate students are first-generation college students. Almost all full-time students receive scholarships or other forms of financial aid – 62% of Alverno’s incoming undergraduate students are Pell Grant eligible compared to the national average of 34%. Nearly 60% of students represent racially or ethnically diverse groups. Alverno’s adult and graduate programs extend opportunities for men and women seeking credentials that provide them with career advancement. Alverno’s Doctor of Education was recently named among the top ten online programs in the U.S. by Forbes magazine. Additionally, 100% of recent graduates from Alverno’s Direct Entry Master of Science in Nursing (DEMSN) in Milwaukee and 100% of all graduates of Alverno’s DEMSN program in Mesa, Ariz. passed the NCLEX the first time to become a registered nurse.

About Alverno College

Based in Milwaukee, Wis., Alverno College is a four-year independent, Catholic, liberal arts college for women. Founded in 1887 by the School Sisters of St. Francis, Alverno promotes the academic, personal and professional development of its students in a collaborative and inclusive environment. Certificate programs, digital badges, degree completion programs and graduate programs are open to all genders. A leader in higher education innovation, Alverno has earned international accolades for its highly effective ability-based, assessment-as-learning approach to education, which emphasizes hands-on experience and develops in-demand skills. The college, Wisconsin’s first Hispanic-Serving Institution, ranks among the top schools in the Midwest for its commitment to undergraduate teaching and innovation by U.S. News & World Report.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.