FOR IMMEDIATE RELEASE: DEC 12, 2025
GREAT FALLS, MONTANA – The University of Providence (UP) Board of Trustees has formally declared financial exigency, a proactive and responsible step that enables the institution to restructure its operations, realign academic and administrative functions, and secure a sustainable future.
Financial exigency is a formal designation used in higher education when an institution faces significant financial pressures that threaten long-term viability. This designation gives the University the authority and flexibility to enact substantial organizational changes—particularly reductions in operational spending, personnel structures, and academic offerings—that cannot be accomplished through traditional budget adjustments alone.
“The declaration of financial exigency is an instrument that empowers us to act decisively and with a mission-oriented mindset,” said Dr. Caroline Goulet, newly appointed President and Provost of the University of Providence. “Our foremost commitment is to our students. This step allows us to stabilize the institution so we can continue to provide them with high-quality education, personalized support, and a path to degree completion. Through a deliberate, phased approach, we will rebuild a strong foundation for UP’s long-term future.”
The University will implement a three-phase plan to stabilize operations, rebalance its academic and administrative structures, and set the conditions for future strategic growth. Although this work will involve further reductions in spending, operational consolidation, potential personnel changes, and adjustments to academic offerings, UP leadership affirmed that every decision will be guided by the University’s mission and the best interests of its students. While this decision may understandably cause concern or anxiety, UP emphasized that the measure is grounded in a singular priority: placing students first—today and for generations to come.
Throughout the process, the University will provide clear, consistent communication with students, faculty, staff, and partners. It has launched a webpage dedicated to financial exigency, featuring frequently asked questions and periodic updates. UP remains fully committed to ensuring academic continuity, supporting student needs, and maintaining pathways to timely degree completion.
“The path ahead will require difficult choices, but it will also allow us to renew and strengthen the University of Providence,” said Dr. Goulet. “students remain at the heart of every decision we make, and this action positions us to serve them more effectively, both now and in the years ahead.”
The University of Providence is a private, Roman Catholic Liberal Arts University founded in 1932 by the Sisters of Providence. The University of Providence honors the Sisters’ vision today by providing a mission-driven education to those that need it most. Located in Great Falls, Montana, the University of Providence offers both undergraduate and graduate-level liberal arts and health programs. For more information visit: www.uprovidence.edu
