Rivier doing fine in crisis
Nashua’s other private college says it is in good financial health.
Rivier College, a Catholic institution, has a budget surplus and a healthy amount of debt, according to Joe Fagan, vice president of finance and administration for the college.
And in case anyone was wondering, he said, the college has no plans to sell.
Fagan said the college’s endowment is down a bit, like everyone else’s, but a very small portion of the college’s operations – only about 2 percent – are supported by the interest from that fund.
“Like most private colleges that have low endowment, we’re tuition-driven,” Fagan said.
He attributes Rivier’s surplus and low debt to a fiscally conservative board of directors.