Dear Members of the PCOM Family:
During the past months all of us have watched the nation’s economy move towards deep recession. In this context, I write to reassure you that the state of Philadelphia College of Osteopathic Medicine is sound. Here are the facts:
- The Board of Trustees of PCOM has given the College the gift of prudent stewardship. Our endowment has taken a paper loss, as have most college endowments. Yet, our A bond rating is the highest of all osteopathic medical colleges. We have little debt and what we have is in 100% fixed rate obligations. Much of our cash is invested in FDIC-insured Certificates of Deposit. Your College operates on sound fiscal principles, with multiple external and internal audit controls.
- Our academic programs, in which 2,162 students are enrolled, continue to be highly competitive. Applicant pools are strong as are our academic outcomes. Our programs are approved by the appropriate regional, state and programmatic oversight bodies.
I am proud of our faculty and staff, and of our Board of Trustees for the leadership that has allowed us to remain strong even during difficult times. Together we must respond to greater challenges than we have seen for many years by doing the following:
- Maintaining low tuition increases (3% in this fiscal year) to help our students keep their loans within manageable levels. Here is the history of our tuition increases, compared to the average increases of private colleges of osteopathic medicine.
- Increasing our need-based scholarships to help offset the loss of the $2.3 million in need-based scholarships from the now dormant School as Lender program.
- Guiding our students; helping them understand the deeper truths of osteopathic medicine.
- Participating in the life of this College: letting us know your life changes, and attending College alumni events.
PCOM is a family and families support one another in difficult times. Your faculty, staff, Board of Trustees, and administrators face today’s challenges with energy and confidence. We need your continued loyal support and counsel. We know that we are strong, that we stand on 110 years of success, and that we have our 10,000 alumni who stand behind our College now more than ever.
To help secure our future, we ask you to seriously consider making a gift to PCOM. Every dollar raised is used for college operations, lifting the burden from student tuitions. Please make your gift today; if you have already done so, thank you!
Donate NowThank you for all you have done and all that you will continue to do.
Matthew Schure, Ph. D.
President and CEO