Facing a $20 Million Deficit, Albright College Is Making Cuts, Borrowing from Endowment

Over the past year, Albright College in Berks County has cut 53 positions, canceled some academic majors, and considered selling property and art as part of an effort to close a $20 million deficit. Despite those challenges, interim President Debra Townsley struck an optimistic tone during an interview with Spotlight PA in early December, noting that the private liberal arts college had cut expenses in half from 2023 and highlighting revamped admissions, advancement, and fundraising efforts. What Townsley did not mention was that Albright would soon seek permission to borrow up to $25 million of its endowment fund. Officials said they needed the money by Jan. 1 to prevent “the risk of closure,” because Albright was running out of “basic operational funds.”