Message from President Wendy Libby
to Stephens Students
(Sent Jan. 21, 2009)
Dear Stephens Students,
This has been a momentous week for our country, with Martin Luther King Jr. celebrations followed by the inauguration of President Barack Obama to show us all how far we have come as a nation – and the distance we have yet to travel. All around us, and in every industry, we see widespread economic challenges. The world has changed a great deal since I arrived at Stephens in ways none of us could have expected, and the most rapid of these changes have occurred in just the past few months.
Like other institutions of higher education, Stephens faces many challenges right now. We are strategizing even as we witness a loss in our endowment value, a significant rise in food costs, a tighter loan market for families, a decline in fundraising revenue (as donors experience market losses), and a host of other intertwining challenges. Our proactive response is to look at everything we do very carefully and examine ways to tighten our already austere spending plan, reduce expenses and develop new sources of revenue to support the College.
All of this is done in the context of our mission – and with our commitment to preparing our students in becoming “career-ready women of distinction” through our undergraduate and graduate degree programs. The vision for Stephens’ future is solid, our direction still clear. Over the past year, more Stephens students than ever have chosen to continue their education here until graduation. Our sense of community is strong.
As we move forward, my Senior Staff and I see many opportunities for Stephens that lie within these challenges. Together with our faculty and staff, we will need to move quickly and make some tough decisions over the next months. We meet with our Board of Trustees in two weeks, and afterward will have a better idea of the landscape. We will share more information with you as this plan crystallizes.
In the meantime, know that I have great confidence in the ability of the Stephens community to come together, to work hard, to be innovative, and to put Stephens and her students first.
Wendy Libby
