USA Today just ran an article on the financial problems that are now affecting theological education. The newspaper story, "Seminaries Face Financial Woes," indicates that theological schools (and undergraduate Bible college) are moving to adapt. One has announced that it will close this year -- Salt Lake Theological Seminary. On the other hand, Lexington Theological Seminary is moving to more online and extension education. Seabury-Western announced that it was suspending its residential M.Div. programs a year ago, before the dramatic downturn actually hit.
This story doesn't break new ground, but it summarizes some of the news that has come out in the past year. It's surprisingly upbeat, focusing on how seminaries are coping rather than dwelling on the bad news.
Read the entire article here.