On Thursday, McNealey delivered an address of preparing Stillman for personal success in the face of adversity during the ceremony. He reported the state of the private college, with an operating budget of $27 million, as good, but made remarks which highlighted the national decline in student enrollment and financial difficulties.
Additionally, he mentioned an increase in denials in student loan requests. “While certainly there are storm clouds on the horizon, we can see silver linings in those clouds,” he told students and faculty.
McNealey called the national statistics depressing, but said Stillman will continue to pursue its goals despite adverse conditions.
“We will continue to search for the next new thing that circumstances say we cannot do and do it,” McNealey said.
On Friday afternoon, the college released a brief statement naming Peter Millet, provost and vice president for academic affairs, as interim president.
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