Nazareth University’s new president is stepping into her role at a time when the federal landscape for higher education is shifting.
Finney started the job on July 1 and is the 11th president to lead the university since it opened in 1924. She replaced former President Elizabeth Paul who served for six years.
“I would love Nazareth to be known as an institution that focuses on academic excellence, rigor, and outcomes,” Finney said. “Meaning, if you choose to come here, you will get a second-to-none, world class education that has a foundation in the liberal arts and sciences and prepares you so very well for your life's work.”
The same week Finney took office, the U.S. Department of Education issued its rule on something called the Student Tuition and Transparency System, which ties federal students loans to graduates' earnings.
According to the new rule, undergraduate programs will be required to show that graduates earn more than a typical high school diploma holder. Graduate programs must prove that their graduates earn more than a typical bachelor’s degree holder.
The U.S. Department of Education stated that if a program fails to demonstrate that, it will no longer be eligible to participate in federal financial aid programs such as direct loans or Pell Grants.
“As the federal student loan portfolio approaches $1.7 trillion and more students are left financially worse off than if they had never attended college, now is the time for a hard reset in higher education,” a Dept. Of Education memo stated, calling it a “once-in-a-generation opportunity to rein in unsustainable student loan borrowing.”
According to Federal Register estimates, humanities, liberal arts, and religious studies are among the programs expected to be most affected by the rule. That poses a challenge for students deciding what to study and where, and for colleges’ bottom line.
The vast majority — about 90% — of Nazareth University’s operational budget is funded by tuition fees, Finney said. But despite a challenging landscape for higher education, she said liberal arts is not dead.
“It's the integration of that core understanding of communication and critical thinking, problem solving with whatever your passion and your purpose is,” she said, “and I think that's so needed right now.”
Finney previously served as provost at Nazareth, and has 25 years' experience working as a physician assistant at University at Buffalo. Her leadership style, she said, is based on what she learned in medicine: listen first.
“Whether you're taking a patient history or I’m in meetings with somebody and they're sharing with me their perspective, you need to honor that,” she said. “I probably already have about 45 or 50 breakfast lunch meetings over the next six weeks, and I envision really listening with intent, and then leaning into our next step, which will be to strategically plan for our future.”
