Cedarville Magazine Summer 2019

grown from 231 to 434 during that same time, with programs that are intentional about equipping Christian professionals for career success and Gospel impact. Our deposits for fall 2019 have already broken our previous records. This growth has created the need for expansion as students desire biblically faithful academic excellence. Now, we must ensure that the excellence of our faculty and programs is matched by the quality and appearance of our facilities and classrooms. FINANCIAL STRENGTH AT ALL-TIME HIGH Twenty-five percent of private institutions reported running an operational deficit in 2017–18. 3 One in five small private colleges experience fundamental stress with Moody’s Investors Services renewing its negative outlook on higher education, stating that school closures would grow from 11 to 15 per year. 4 Yet at Cedarville, we have experienced a time of unprecedented financial stability. § § $7.4 million of internal debt retired since 2013. § § $13.7 million of external debt retired since 2013. We have early prepayment penalties on the remaining $5.3 million, but are on course to be debt-free by 2023. Since 2013, by God’s grace we have also made, or are preparing to make, more than $40 million in infrastructure improvements: § § Built two 48-bed townhouses ( $2.4M each ) § § Built two 64-bed residence halls ( $3.3M each ) FUTURE FAITHFULNESS BY THOMAS WHITE Cedarville Magazine | 3