Looking at institutional financial health using a student-centered metric

NACUBO In Brief

Tom Simard is Deputy Commissioner for Finance and Administration at the Massachusetts Department of Higher Education and he joins NACUBO’s Bryan Dickson, assistant director for advocacy and student financial services. Massachusetts is stepping up to face the question of institutional solvency with a new metric that aims to better understand the nature of previous closures in the state, and provide a diagnostic into potential future challenges facing the state’s institutions.

What is the regulatory role for the state commissioners? How does the department help stakeholders to understand the financial standing of institutions who may be facing financial challenges without being a burden on others? Simard paints a picture of a process designed to support the Massachusetts higher education landscape, and may even serve as a model for other states, too.