Southwestern College
Santa Fe, NM · official site ↗
Private nonprofitSpecial Focus: Other Health ProfessionsGraduate/Professional
46
Fin. Resilience
Southwestern College is a private nonprofit institution in Santa Fe, NM, classified by Carnegie as “Special Focus: Other Health Professions.”
It is benchmarked here against 118 peer institutions (Special Focus: Other Health Professions · Private nonprofit).
On Ibex's Financial Resilience score it rates 46 out of 100 within that peer group, a transparent composite of endowment per undergraduate, net tuition revenue per student, and instructional spend per student.
That score and the financial health index below are not the same measure and can disagree: the resilience score ranks per-student resource levels against this peer group, while the financial health index scores the institution's own balance sheet and operating result on the CFI scale, independent of peers. A school with modest resources per student can still run a sound balance sheet, and a wealthy one can still post an operating loss.
Its strongest standing relative to peers is reserves vs. debt (1207.23×, 96th percentile).
Its weakest is full-time faculty share (19.6%).
Peer group
Special Focus: Other Health Professions · Private nonprofit
118 institutions
No cross-metric risk flags triggered.
What changedlargest year-over-year moves
Title IV aid expended
▲ +26%
$3.9M → $4.9M
2023→2024
Direct Loan volume
▲ +26%
$3.9M → $4.9M
2023→2024
Federal awards expended
▲ +24%
$3.9M → $4.9M
2023→2024
Gifts and grants received
▼ -10%
$110,024 → $99,245
2022→2023
Endowment (end of year)
▲ +8%
$1.2M → $1.3M
2022→2023
Net tuition revenue / FTE
▲ +5%
$22,927 → $24,152
2023→2024
Most recent single-year change in each tracked metric. Green = moved in this metric’s favorable direction, red = unfavorable, grey = size or context, not scored. Each row uses the latest pair of years that metric has, and federal collections release on different schedules, so the years differ from row to row: read the years on the row, not just the ranking. A single year is also not a trend, the multi-year series is on each metric’s card below.
Policy & demographic exposure
How exposed Southwestern College is to the structural shifts reshaping higher ed: a composite structural-risk index plus the 2025 federal budget law’s endowment excise tax, Grad PLUS elimination, new Parent PLUS borrowing cap and new Workforce Pell short-term-credential opportunity, and the demographic enrollment cliff. Only signals that apply to this institution are shown.
Structural risk indexAn indicative 0–100 structural-risk index (higher = more pressure) blending operating margin, months of cash cushion, tuition dependency and the home-state enrollment cliff. Screens for the financial and demographic strain that precedes closures and mergers, directional, not a prediction.
58
ElevatedGrad PLUS exposureShare of the school's graduate federal loan dollars that came from Grad PLUS, the program the 2025 budget law eliminates for new borrowers from July 2026 (FSA Direct Loan data). Higher = more graduate borrowing that will disappear above the new caps.
34.5%
Moderate exposureHigher than 70% of schools nationally
AY2025-26 YTD (through Q2, Dec 2025)
Avg Grad PLUS loanAverage Grad PLUS loan per borrower (FSA). The 2025 law caps unsubsidized grad borrowing at $20,500/yr and ends Grad PLUS, this is the average per-student amount that vanishes above the cap. The depth half of the Grad PLUS shock; pair with Grad PLUS exposure (the reliance share).
$25,231
Above the capHigher than 69% of schools nationally
AY2025-26 YTD (through Q2, Dec 2025)
Enrollment cliff (home state)Projected change in the institution's home-state high-school graduates from 2025 to 2041 (WICHE). The U.S. total falls about 13%; a directional feeder-market signal, not an enrollment forecast.
-23.9%
Severe declineIndicative signals, not forecasts, see each metric’s definition and the methodology. Endowment-tax, Grad PLUS, Parent PLUS and Workforce Pell figures appear only where the institution is actually exposed; “nationally” compares against all schools that report each signal.
Turn these signals into action
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Financial Health Index
7.7
on a −4 to 10 scale
Primary reserve 35%14.8 mo
Reserves vs. debt 35%1207.23×
Return on net assets 20%4.9%
Operating result 10%5.7%
Composite of four ratios on a strength-factor scale (−4 weak → 10 strong): below 3 falls short of the threshold for financial health, below 1 signals acute stress, and above 6 is strong. Computed from IPEDS FY2022-23, the most recent finance release (it lags the current year by 2–3 years). Branch campuses that report finances at a parent/system level can show distorted ratios. For informational benchmarking, not a credit rating or financial advice.
Enrollment shock
What an enrollment loss would do to the budgetTuition revenue falls with the students; every other revenue line and the entire cost base are held where they are. It measures the size of the hole a decline would open, not what the institution would end up reporting after it responded.
Tuition and fees fund 86% of this institution’s revenue, and it runs a 5.1% operating margin. It could lose about 5.9% of its enrollment before the surplus becomes a deficit, if nothing else changed.
-3.8%
operating margin after the loss, with costs unchanged
A deliberately simple counterfactual: net tuition per student and total costs stay where the latest IPEDS finance filing put them, so only the tuition line moves. No institution facing this would hold costs flat, which is the point, the figure is the gap that would have to be closed, not a forecast of the margin it would report. A school that responds by discounting harder to hold headcount converts the same problem into a net-price one, and it does not show up here.
Revenue composition
Where the money comes from
$4.5M total revenue · IPEDS FY2022-23
Tuition & fees is the largest single source at 86% of revenue.
Tuition & fees86.3%
Other revenue8.6%
Investment return2.9%
Private gifts & grants1.2%
Government grants & contracts1.1%
Where each dollar of revenue comes from, as a share of total positive revenue. Sources are standardized across public (GASB) and private (FASB) reporting; a net investment loss in a down market is shown as 0% and excluded from the mix.
Financial Health
The bar under each rank is the spread across the peer group: the shaded box is the middle half, the pale line is their median, and the gold marker is this institution. Hover for the figures.
Net tuition revenue / FTETuition revenue per full-time-equivalent student after institutional aid/discounts, what tuition actually nets.Calculated from filings
Strong
$24,152
66th percentile in peer grouppeer median $19,764
higher is better
2024-25 (Scorecard)117 peers
Instructional spend / FTESpending on instruction per FTE student, how much of the budget reaches the classroom.Calculated from filings
Below peers
$7,226
25th percentile in peer grouppeer median $10,574
higher is better
2024-25 (Scorecard)117 peers
Endowment (end of year)Total endowment value at year end, long-term invested wealth that funds operations and cushions shocks.As filed
Below peers
$1.3M
24th percentile in peer grouppeer median $7.7M
higher is better
FY2022-2370 peers
Value of endowment assets at the end of the fiscal year (IPEDS finance, FY2022-23: FASB F2H02 / GASB F1H02), co-vintage with the other finance-year metrics on this page. Usually filed at the parent campus: most branch and online sub-units show the parent's endowment as a clearly labeled inherited value, and a few report a small endowment of their own alongside it. Multi-year trend from College Scorecard, shown only where it matches the IPEDS filing.
Avg monthly faculty salaryWhat the institution pays its faculty. Scored as higher-is-better because it tracks an institution's ability to attract and hold teaching staff. It also tracks local cost of living, so compare within a region before drawing a conclusion.Average monthly salary of full-time faculty (IPEDS) – a proxy for faculty investment.As filed
Below peers
$6,816
28th percentile in peer grouppeer median $7,854
higher is better
2024-25 (Scorecard)109 peers
Average monthly salary of full-time faculty, as reported to IPEDS.
Operating marginNet surplus as a share of total revenue, whether the institution runs in the black.Calculated from filings
Strong
5.1%
60th percentile in peer grouppeer median 0.6%
higher is better
FY2022-2391 peers
Net surplus as a share of total revenue (IPEDS FY2022-23): (total revenues − total expenses) ÷ total revenues. A surplus above 4% is strong; a thin surplus near 0% leaves little margin for shocks.
Tuition dependencyTuition's share of total revenue, how exposed the budget is to enrollment swings.Calculated from filings
86.3%
69th percentile in peer grouppeer median 78.7%
context, not scored
FY2022-2391 peers
Tuition & fees as a share of total revenue (IPEDS FY2022-23). Higher = more exposed to enrollment swings.
Tuition discount rateInstitutional grant aid as a share of gross tuition (IPEDS, private nonprofits only) – the tuition-discount rate. The share of sticker tuition handed back as aid; a high rate (the national average is ~56%) signals heavy price competition for students.Calculated from filings
Moderate
3.5%
58th percentile in peer grouppeer median 2.8%
context, not scored
FY2022-23107 peers
Institutional grant aid as a share of gross tuition & fee revenue (IPEDS FY2022-23, FASB): allowances applied to tuition ÷ (net tuition revenue + those allowances) – the tuition-discount rate enrollment leaders track, i.e. the share of sticker tuition handed back as institutional aid. Private nonprofit institutions only; public (GASB) institutions report tuition differently and are not shown. The national private-college average is roughly 56% (NACUBO); above ~60% signals heavy price competition.
State appropriations shareState appropriations' share of total revenue, material for public institutions, near zero for private.Calculated from filings
0%
48th percentile in peer grouppeer median 0%
context, not scored
FY2022-2391 peers
State appropriations as a share of total revenue (IPEDS FY2022-23). Material for public institutions; ~0 for private.
Administrative cost shareInstitutional support (central administration, governance, general administration, fundraising, and under FASB the operation & maintenance of plant) as a share of total expenses, private nonprofit (FASB) institutions only, where the figure is comparable. An informational gauge of administrative intensity, not a measure of waste.Calculated from filings
16.4%
25th percentile in peer grouppeer median 22.7%
context, not scored
FY2022-23108 peers
Institutional support, central administration, executive management, governance, general administration, fundraising and (under FASB rules) operation & maintenance of plant, as a share of total expenses (IPEDS FY2022-23, FASB). Private nonprofit institutions only: public (GASB) institutions report functional expenses on a different basis and frequently consolidate large hospital and auxiliary operations, which makes a comparable ratio unreliable, so they are not shown. Because FASB folds plant operations into institutional support, this runs higher than a narrow 'central-office' figure, and schools with sizable hospital or auxiliary operations show a lower ratio as those costs enlarge total expenses. An informational benchmark of administrative intensity, compared within the peer group, not a measure of waste or quality.
Months of operating cushionMonths of operating expenses covered by expendable reserves, the institution's cash cushion.Calculated from filings
Strong
14.8 mo
65th percentile in peer grouppeer median 9.9 mo
higher is better
FY2022-2388 peers
How many months of operating expenses the institution could cover from expendable reserves (IPEDS FY2022-23 primary reserve ratio × 12). About 5 months, one semester, is the accreditor benchmark for solid footing; below ~3 months is thin. A negative figure means expendable reserves are themselves negative.
Reserves vs. debtExpendable reserves divided by long-term debt, whether reserves could cover the debt.Calculated from filings
Strong
1207.23×
96th percentile in peer grouppeer median 2.06×
higher is better
FY2022-2336 peers
Expendable reserves ÷ plant-related debt (IPEDS FY2022-23 viability ratio). At or above 1.25×, reserves fully cover long-term debt. Shown blank when the institution carries little or no plant debt.
Return on net assetsChange in net assets over the year, whether the institution grew wealthier.Calculated from filings
Strong
4.9%
71st percentile in peer grouppeer median 1.3%
higher is better
FY2022-2384 peers
Change in total net assets ÷ net assets (IPEDS FY2022-23) – whether the institution grew wealthier over the year. 2–4% is adequate; above 4% is strong.
Endowment per FTE studentEndowment per full-time-equivalent student, the FTE-correct measure of endowment wealth per student.Calculated from filings
Average
$7,706
38th percentile in peer grouppeer median $12,363
higher is better
FY2022-2370 peers
End-of-year endowment ÷ 12-month FTE enrollment, endowment wealth per full-time-equivalent student. The FTE-correct companion to endowment-per-undergraduate; FTE counts graduate and part-time load, so research universities look less wealthy on this basis than on a headcount basis. Both sides are FY2022-23: the denominator is the FTE count from the endowment's own year (2022-23), not the newer FTE figure shown in the enrollment section, so dividing the two numbers on this page will not reproduce this one.
Spent on instructionInstruction as a share of total functional expenses (private-nonprofit reporting).Calculated from filings
28.9%
14th percentile in peer grouppeer median 44.3%
context, not scored
FY2022-23 (IPEDS)109 peers
Instruction spending divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). 'Where the money goes' context, reported here for private-nonprofit (FASB) institutions only, where the functional split is comparable; not computed for public or for-profit institutions. Higher is not automatically better; research universities and those with hospitals or large auxiliaries spread spending across other functions.
Spent on student servicesStudent services as a share of total functional expenses (private-nonprofit reporting).Calculated from filings
14.2%
77th percentile in peer grouppeer median 9.6%
context, not scored
FY2022-23 (IPEDS)109 peers
Student-services spending (admissions, registrar, student life, counseling) divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). Private-nonprofit (FASB) institutions only. Spending-mix context, not a quality measure.
Spent on academic supportAcademic support as a share of total functional expenses (private-nonprofit reporting).Calculated from filings
31.4%
97th percentile in peer grouppeer median 8.5%
context, not scored
FY2022-23 (IPEDS)109 peers
Academic-support spending (libraries, academic computing, deans' offices) divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). Private-nonprofit (FASB) institutions only. Context, not a quality measure.
Spent on researchResearch as a share of total functional expenses (private-nonprofit reporting).Calculated from filings
0%
34th percentile in peer grouppeer median 0%
context, not scored
FY2022-23 (IPEDS)109 peers
Research spending divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). Private-nonprofit (FASB) institutions only; near zero at teaching-focused colleges and sizeable at research universities. Spending-mix context, not a quality measure.
Financial responsibility scoreED financial-responsibility composite score (-1.0 to 3.0; >=1.5 is passing).Regulator / auditor finding
Below peers
2.2
32nd percentile in peer grouppeer median 2.3
higher is better
FY2022-23 (Federal Student Aid)95 peers
The U.S. Department of Education's financial-responsibility composite score, a -1.0 to +3.0 measure of an institution's solvency built from its audited finances. 1.5 and above passes; 1.0-1.4 is a zone needing oversight; below 1.0 fails and can trigger letter-of-credit or cash-monitoring requirements. ED computes it only for private non-profit and proprietary schools, so it is reported only where scored. Higher is safer. Banded against the school's peer group.
Grad PLUS exposureShare of the school's graduate federal loan dollars that came from Grad PLUS, the program the 2025 budget law eliminates for new borrowers from July 2026 (FSA Direct Loan data). Higher = more graduate borrowing that will disappear above the new caps.Calculated from filings
Moderate exposure
34.5%
AY2025-26 YTD (through Q2, Dec 2025)
Share of the institution's graduate federal loan dollars (Grad Unsubsidized + Grad PLUS) that came from Grad PLUS, the program the 2025 budget law eliminates for new borrowers from July 1, 2026, alongside new caps on graduate borrowing. A higher share means more of the school's graduate students rely on borrowing that will no longer exist above the unsubsidized cap. Source: U.S. Dept. of Education / Federal Student Aid Direct Loan Dashboard, primarily award year 2025-26 (year-to-date through Q2, December 2025), the most current federal data; schools not yet reporting Grad PLUS in 2025-26 retain their most recent complete year (2024-25), shown per school. The reliance share is stable across the two vintages. Shown only for schools with Grad PLUS originations; an exposure signal, not a forecast of revenue loss. Federal Student Aid publishes this dashboard quarterly and schools report on different schedules, so each school is shown at its own most recent reported period. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Avg Grad PLUS loanAverage Grad PLUS loan per borrower (FSA). The 2025 law caps unsubsidized grad borrowing at $20,500/yr and ends Grad PLUS, this is the average per-student amount that vanishes above the cap. The depth half of the Grad PLUS shock; pair with Grad PLUS exposure (the reliance share).As filed
Above the cap
$25,231
AY2025-26 YTD (through Q2, Dec 2025)
Average Grad PLUS loan per recipient (FSA Direct Loan Dashboard, award year 2025-26 year-to-date through Q2, with 2024-25 full-year retained where 2025-26 is not yet reported). The 2025 budget law eliminates Grad PLUS for new borrowers from July 1, 2026 and caps unsubsidized graduate borrowing at $20,500/year, so this is the average per-borrower amount that will no longer be available above that cap. Paired with Grad PLUS exposure (the institution's reliance share), it is the depth axis of the Grad PLUS shock: how much each affected borrower stands to lose. Shown only where Grad PLUS was originated. Federal Student Aid publishes this dashboard quarterly and schools report on different schedules, so each school is shown at its own most recent reported period. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Structural risk indexAn indicative 0–100 structural-risk index (higher = more pressure) blending operating margin, months of cash cushion, tuition dependency and the home-state enrollment cliff. Screens for the financial and demographic strain that precedes closures and mergers, directional, not a prediction.Blended index
Elevated
58
FY2022-23 (IPEDS) with WICHE 2024 projections
An indicative 0–100 structural-risk index (higher = more pressure), an equal-weight blend of the stress signals we measure: thin or negative operating margin, low months of operating cushion, high tuition dependency, and a shrinking home-state high-school-graduate pipeline (enrollment cliff). Averaged over whichever signals are available (at least two required). It screens for the financial and demographic pressures that precede closures and mergers, a directional indicator, NOT a prediction that any institution will close, and not a credit rating. Built from the FY2022-23 IPEDS finance filing, the most recent one published, combined with WICHE's high-school-graduate projections. The finance side is two to three years old, so a school that has since raised money, cut costs or lost enrollment will not be reflected here. It is a structural signal, not a current diagnosis, and it is not a prediction that any named institution will close.
Federal awards expendedTotal federal award dollars expended in the audited fiscal year (SEFA total).As filed
$4.9M
17th percentile in peer grouppeer median $23.2M
context, not scored
AY2024 (Federal Audit Clearinghouse)32 peers
Total federal award dollars the institution expended in the audited fiscal year, from the Schedule of Expenditures of Federal Awards in its Single Audit. It combines student aid, research grants, and every other federal program, so it measures the institution's overall exposure to federal funding rather than its quality. Context metric, not better or worse. Shown as a position within the peer group, not as a score. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Title IV aid expendedFederal student aid dollars expended (Student Financial Assistance cluster).As filed
$4.9M
17th percentile in peer grouppeer median $22.5M
context, not scored
AY2024 (Federal Audit Clearinghouse)32 peers
Federal student financial aid the institution disbursed in the audited year: the Student Financial Assistance cluster, covering Pell, Direct Loans, Federal Work-Study, FSEOG and Perkins. It is the clearest single measure of how much Title IV money flows through the school. Context metric, not better or worse. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Direct Loan volumeWilliam D. Ford Direct Loan dollars expended (ALN 84.268).As filed
$4.9M
20th percentile in peer grouppeer median $19M
context, not scored
AY2024 (Federal Audit Clearinghouse)32 peers
Federal Direct Loan dollars originated for the institution's students in the audited fiscal year (federal assistance listing 84.268). Large loan volume relative to enrollment means students are borrowing heavily to attend. Context metric, not better or worse; pair it with the school's median debt and earnings figures. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Audit findingsDistinct findings raised in the most recent Single Audit. Lower is better.As filed
No findings
0
28th percentile in peer grouppeer median 0
lower is better
AY2024 (Federal Audit Clearinghouse)32 peers
Number of distinct audit findings the independent auditor raised in the institution's most recent Single Audit. A finding records a failure to comply with federal award rules or a breakdown in internal control, and can range from a late report to unallowable spending. Zero is common and is the clean result. Lower is better. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Going-concern disclosureThe auditor's report includes a going-concern disclosure.Regulator / auditor finding
None
No
AY2024 (Federal Audit Clearinghouse)
Whether the independent auditor included a going-concern disclosure in the institution's most recent Single Audit report. Auditors add one when there is substantial doubt about the organization's ability to continue operating for the next year, so it is the most serious signal an audit carries. Read it as a prompt to open the audit itself, not as a verdict: the flag is the checkbox the auditor ticked on the federal SF-SAC form, and the underlying disclosure may concern a subsidiary or a since-resolved condition. About 2% of audited institutions carry one. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Material weaknessAuditor disclosed a material weakness in internal control over financial reporting.Regulator / auditor finding
None reported
No
AY2024 (Federal Audit Clearinghouse)
Whether the auditor found a material weakness in internal control over financial reporting: a deficiency severe enough that a material misstatement of the financial statements could go undetected. It does not mean money was lost, but it means the controls that would have caught a loss were not working. Around 10% of audited institutions report one. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Material noncomplianceAuditor disclosed material noncompliance with federal award requirements.Regulator / auditor finding
None reported
No
AY2024 (Federal Audit Clearinghouse)
Whether the auditor found material noncompliance with the rules attached to the institution's federal awards, such as student eligibility, cash management, or allowable cost requirements. Material means the breach was large enough to matter to the federal agency funding the school. About 2% of audited institutions report it. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Program compliance opinionAuditor issued a qualified, adverse, or disclaimer opinion on a major federal program.Regulator / auditor finding
Unmodified
No
AY2024 (Federal Audit Clearinghouse)
Whether the auditor issued anything other than a clean (unmodified) compliance opinion on at least one of the institution's major federal programs. A qualified, adverse, or disclaimer opinion means the auditor could not conclude the school followed that program's rules. Roughly 3% of audited institutions receive one; for most schools the major program at issue is Title IV student aid. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Low-risk auditeeQualifies as a low-risk auditee under 2 CFR 200.520 (a clean recent audit history).Regulator / auditor finding
Low-risk
Yes
AY2024 (Federal Audit Clearinghouse)
Whether the institution qualified as a low-risk auditee under federal rule 2 CFR 200.520. A school earns the status only by filing on time for two consecutive years with clean opinions, no material weaknesses, and no going-concern doubt. It is a compact summary of a clean recent audit history, and it reduces how much of the school's federal spending must be audited the next year. About 73% of audited institutions qualify. Yes is better. Note the periods it covers: the rule judges the two audit years BEFORE the one being filed, so this status can read Yes on a filing that also carries a going-concern disclosure or a material weakness raised for the first time this year. That is the rule working as written, not a contradiction, but it means a lone Yes is weaker evidence than a clean set of the other audit flags on this page. Reported only for institutions that file their own Single Audit with the Federal Audit Clearinghouse; a school with no value did not file one, which is not the same as a clean result. Public universities audited inside a state or system report, for-profit institutions (exempt from the Single Audit), and schools under the federal expenditure threshold do not appear. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Gifts and grants receivedTotal contributions, gifts, and grants received in the filing year (Form 990).As filed
Below peers
$99,245
15th percentile in peer grouppeer median $794,352
higher is better
FY2023 (IRS Form 990 (ProPublica Nonprofit Explorer))44 peers
Total contributions, gifts, and grants the institution received in the filing year, from its Form 990. This is the broadest available measure of philanthropic and grant support reaching the institution, covering alumni giving, foundation grants, and government grants recorded as contributions. Read it against enrollment: strong giving at a small school is a real cushion against tuition dependence. Higher is better. Sourced from the institution's IRS Form 990, matched on the Employer Identification Number it reported in its federal Single Audit. Only private nonprofit institutions file a Form 990: public universities are government units and file none, and for-profit institutions file none. A school with no value did not file, which is not the same as a value of zero. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Tax-exempt bond debtTax-exempt bond liabilities outstanding at year end (Form 990).As filed
$0
33rd percentile in peer grouppeer median $0
context, not scored
FY2023 (IRS Form 990 (ProPublica Nonprofit Explorer))47 peers
Tax-exempt bond debt the institution still owed at the end of the filing year. Colleges borrow through municipal bonds to build dormitories, labs, and stadiums, so a large balance is not by itself a warning: it reflects a building programme. It becomes a risk when it is large relative to the institution's net assets, which is what the bond-debt-to-net-assets figure on this page measures. A zero here means the institution reported no tax-exempt bond debt outstanding, which is a genuine, debt-free result. Context metric, not better or worse. Sourced from the institution's IRS Form 990, matched on the Employer Identification Number it reported in its federal Single Audit. Only private nonprofit institutions file a Form 990: public universities are government units and file none, and for-profit institutions file none. A school with no value did not file, which is not the same as a value of zero. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Bond debt vs net assetsTax-exempt bond debt as a share of total net assets. Lower is better.Calculated from filings
Low leverage
0%
33rd percentile in peer grouppeer median 0%
lower is better
FY2023 (IRS Form 990 (ProPublica Nonprofit Explorer))47 peers
The institution's outstanding tax-exempt bond debt divided by its total net assets. It answers the question the raw debt figure cannot: how heavy is this borrowing relative to what the institution actually owns. A wealthy university with billions in net assets carries a large bond balance comfortably; a tuition-dependent college with thin reserves does not. Above roughly 50% the debt is a material claim on the institution's resources. Shown only where net assets are positive. Lower is better. Sourced from the institution's IRS Form 990, matched on the Employer Identification Number it reported in its federal Single Audit. Only private nonprofit institutions file a Form 990: public universities are government units and file none, and for-profit institutions file none. A school with no value did not file, which is not the same as a value of zero. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Officer pay, share of expensesCompensation of current officers and key employees as a share of total expenses.Calculated from filings
16%
96th percentile in peer grouppeer median 4.7%
context, not scored
FY2023 (IRS Form 990 (ProPublica Nonprofit Explorer))40 peers
What the institution paid its current officers, directors, trustees, and key employees, as a share of its total functional expenses. At almost every college this is a fraction of one percent, because the denominator includes all faculty and staff salaries. The figure is useful mainly at the extremes and at small institutions, where an unusually high share can indicate a top-heavy cost structure. It is not a measure of executive pay in absolute terms. Context metric, not better or worse. Sourced from the institution's IRS Form 990, matched on the Employer Identification Number it reported in its federal Single Audit. Only private nonprofit institutions file a Form 990: public universities are government units and file none, and for-profit institutions file none. A school with no value did not file, which is not the same as a value of zero. Each school is shown at its own most recent filing, so the peer comparison spans a few filing years rather than a single one.
Enrollment loss before deficitHow much of its enrollment the institution could lose before running an operating deficit, if it changed nothing else.Modelled by Ibex
Some cushion
5.9%
58th percentile in peer grouppeer median 1.7%
higher is better
FY2022-2385 peers
The share of its students an institution could lose before its operating surplus becomes a deficit, assuming net tuition per student and total costs stay where they are. It comes straight from two figures in the same IPEDS finance filing: the operating margin, and tuition's share of total revenue. A school with a 3% surplus that funds 85% of itself from tuition can absorb about a 3.5% enrollment loss; the same 3% surplus at a school funding a quarter of itself from tuition absorbs about 12%. Zero means the institution is already running a deficit. It is not a prediction: no institution facing that loss would hold costs flat, and the number is the size of the hole that would have to be closed, not the outcome. Banded against the school's peer group. Higher is better.
Operating margin after a 10% enrollment lossWhat the operating margin becomes if a tenth of the students go and nothing else changes.Modelled by Ibex
Into deficit
-3.8%
59th percentile in peer grouppeer median -6%
higher is better
FY2022-2386 peers
The institution's operating margin recomputed after losing one student in ten, holding net tuition per student and total costs constant. Tuition revenue falls with the students; every other revenue line and the whole cost base stay put. A tenth is the scale of decline the demographic projections already put on several states' high-school graduating classes, so it is a scenario rather than a worst case. Not a forecast: a real institution would cut costs, and this measures the gap it would have to cut, not what it would end up reporting. Built from the operating margin and tuition dependency in the same IPEDS filing. Banded against the school's peer group. Higher is better.
Shown exactly as the institution filed it. The value falls outside the normal range for this measure, which usually means a reporting quirk rather than a real figure, so read it with care.
Operational-risk index (official findings)0-100 severity of what federal regulators and auditors have actually said about this institution. Higher means more official concern.Blended index
Clean
6.0
42nd percentile in peer grouppeer median 7.0
lower is better
ED composite FY2022-23 (Federal Student Aid) + Single Audit AY2024 (Federal Audit Clearinghouse)96 peers
A 0-100 severity score built only from published federal determinations: the Department of Education's financial-responsibility composite score, its Heightened Cash Monitoring list, and the going-concern, material-weakness, material-noncompliance, modified-opinion and repeat-finding results of the school's Single Audit. It is deliberately NOT a model: every component is something a regulator or an independent auditor put in writing. Components are scored only where they exist, and the score is their weighted average, so a school assessed on two signals sits on the same scale as one assessed on seven. Schools with neither a composite score nor a Single Audit on file are omitted rather than shown as clean: ED does not compute a composite score for public institutions, and no audit on file means nobody looked, not that nothing was found. Read it alongside the structural-risk index, which is the tool's own forward-looking model rather than a record of findings. Lower is better. The window shown is the one this school's own figure was measured over: it is shorter where the series starts late, ends early, or is cut at a reporting change, so peers are not all measured over identical years.
Enrollment & Pipeline
The bar under each rank is the spread across the peer group: the shaded box is the middle half, the pale line is their median, and the gold marker is this institution. Hover for the figures.
12-month FTE enrollmentFull-time-equivalent enrollment over the full year, the denominator for per-student finance measures.As filed
203
25th percentile in peer grouppeer median 504
context, not scored
2023-24 (IPEDS)117 peers
Full-time-equivalent enrollment over the full 12-month year (IPEDS 12-month enrollment, 2023-24). Counts part-time students at their fractional load, so it runs above fall full-time headcount and is the denominator used for per-student finance measures.
Fully online studentsShare of students enrolled exclusively in distance-education (online) courses.As filed
84%
96th percentile in peer grouppeer median 8%
context, not scored
Fall 2023 (IPEDS)118 peers
Share of students enrolled exclusively in distance-education courses (IPEDS, Fall 2023). Describes delivery model, not quality; online-heavy institutions look different on residential measures.
Applicant-pool diversity shiftProjected change in the non-white share of the home state's public high-school graduating class, class of 2025 to 2037.Modelled by Ibex
+1.7 pts
WICHE 2024 (11th ed.)
Percentage-point change in the non-white share of the institution's home-state public high-school graduating class between the class of 2025 (the national peak) and 2037 (WICHE, Knocking at the College Door, 11th ed., public-school race detail). A forward look at who the future applicant pool will be: a positive value means the state's graduating class is projected to grow more racially diverse. Strategic recruiting context, not a forecast of any one school's enrollment, and a college recruits from many states.
Hybrid (some online) enrollmentShare of students enrolled in some but not all courses online (hybrid), Fall 2023.As filed
14%
38th percentile in peer grouppeer median 29%
context, not scored
Fall 2023118 peers
Share of all students taking some, but not all, of their courses at a distance (IPEDS, Fall 2023). This is the hybrid middle ground between the fully online share and the fully in-person share, and it signals how far a school has moved coursework online without going exclusively remote. Context metric, not better or worse. Shown as a position within the peer group, not as a score.
Graduate share of enrollmentGraduate students as a share of total enrollment, Fall 2023.As filed
100%
83rd percentile in peer grouppeer median 64.1%
context, not scored
Fall 2023118 peers
Graduate students as a share of total headcount enrollment (IPEDS, Fall 2023). It separates research-intensive universities with large graduate bodies from undergraduate-focused institutions. Context metric, not better or worse. Shown as a position within the peer group, not as a score.
Women share of facultyWomen as a share of instructional staff (full- and part-time), Fall 2023.As filed
81.6%
67th percentile in peer grouppeer median 71.8%
context, not scored
Fall 2023115 peers
Women as a share of all instructional staff, full- and part-time combined (IPEDS Human Resources, Fall 2023). A gender-composition signal for the teaching workforce. Context metric, not better or worse. Shown as a position within the peer group, not as a score.
Faculty of color shareU.S. faculty of color as a share of instructional staff, Fall 2023.As filed
31.6%
65th percentile in peer grouppeer median 21.2%
context, not scored
Fall 2023115 peers
Instructional staff who are American Indian/Alaska Native, Asian, Black, Hispanic, Native Hawaiian/Pacific Islander, or two-or-more races, as a share of all instructional staff (IPEDS Human Resources, Fall 2023). Nonresident and race-unknown staff are excluded from the numerator. Context metric, not better or worse. Shown as a position within the peer group, not as a score.
Direct competitors within 100 miCount of other institutions within 100 miles. Scored as lower-is-better because it is used here as a competitive-pressure signal for the institution, not as a benefit to students.Number of same-type institutions (same Carnegie class and control) within 100 miles.Calculated from filings
Strong
0
9th percentile in peer grouppeer median 4
lower is better
2024-25 (Scorecard universe)118 peers
How many institutions of the same type (same Carnegie classification and control, i.e. the schools competing for the same students) sit within roughly 100 miles. A higher count means a more crowded local market and a harder yield fight, which matters most as the regional pool of high school graduates shrinks; a low count means the school has its catchment largely to itself. Distance is straight-line from campus coordinates. Banded against the school's peer group. Fewer is better for recruiting leverage.
Metro-area unemployment rateUnemployment rate in the school's metro area, ACS 2019-23.As filed
Average
5.4%
60th percentile in peer grouppeer median 5%
lower is better
ACS 2019-23117 peers
The civilian unemployment rate in the school's metropolitan or micropolitan area (US Census ACS 2019-23, mapped by the school's federal CBSA code). It is a proxy for local labor demand: a lower rate means a tighter job market, a stronger near-term destination for graduates and a smaller pool of working adults to recruit. It describes the local economy, not the school. Schools outside any metro area are not scored. Banded against the school's peer group.
On-campus crime rateOn-campus criminal offenses per 1,000 students, 2024 (Clery Act).As filed
Average
0 per 1k
41st percentile in peer grouppeer median 0 per 1k
lower is better
2024 (Clery)103 peers
Criminal offenses reported on campus in 2024 (murder, manslaughter, the four sex-offense categories, robbery, aggravated assault, burglary, motor-vehicle theft and arson) per 1,000 students, from the school's federal Clery Act filing. Counts and enrollment are summed across the institution's campuses. A higher number does not always mean a more dangerous school: thorough reporting and dense residential campuses raise it. Lower is generally safer. Banded against the school's peer group.
Enrollment cliff (home state)Projected change in the institution's home-state high-school graduates from 2025 to 2041 (WICHE). The U.S. total falls about 13%; a directional feeder-market signal, not an enrollment forecast.External projection
Severe decline
-23.9%
WICHE 2024 (11th ed.) projection
Projected change in the number of high-school graduates in the institution's HOME STATE from the class of 2025 (the national peak) to 2041, per WICHE's Knocking at the College Door, 11th Edition (Dec 2024). The 'enrollment cliff' is the post-2008 birth decline reaching college age; the U.S. total is projected to fall about 13% over this window. A college recruits from many states, so its home-state projection is an indicative directional signal of feeder-market pressure, not a forecast of that institution's own enrollment. A projection, not a measurement: WICHE's state-level forecast of high-school graduates. It describes the pool a school recruits from, not the school's own enrollment.
Shown exactly as the institution filed it. The value falls outside the normal range for this measure, which usually means a reporting quirk rather than a real figure, so read it with care.
In-state HS graduatesPublic + private high-school graduates in the school's state, class of 2025.External projection
22,472
2nd percentile in peer grouppeer median 121,741
context, not scored
Class of 2025 (WICHE)109 peers
The size of the school's home-state high-school graduating class in 2025 (WICHE Knocking at the College Door, public and private combined). It is the near-term in-state feeder market, the complement to the enrollment-cliff projection, which shows the direction that market is heading. Context metric, not better or worse. Shown as a position within the peer group, not as a score.
Net-price momentum (CAGR)Net-price momentum (CAGR).Modelled by Ibex
Below peers
5.1%
87th percentile in peer grouppeer median 2.1%
lower is better
2016-17 to 2024-25 (Scorecard)116 peers
Compound annual growth rate of net tuition revenue per full-time-equivalent student over the tracked years. A high positive rate means the school's real net price is climbing faster than peers, which can strain affordability and yield. Banded against the school's peer group. Lower is better. The window shown is the one this school's own figure was measured over: it is shorter where the series starts late, ends early, or is cut at a reporting change, so peers are not all measured over identical years.
Student Outcomes & Risk
The bar under each rank is the spread across the peer group: the shaded box is the middle half, the pale line is their median, and the gold marker is this institution. Hover for the figures.
3-yr cohort default rateShare of borrowers defaulting within three years. Lower is better, but values covering 2020 to 2023 are depressed for every school by the federal payment pause, so the level means less than the comparison.Share of borrowers who default within three years of entering repayment. Lower is better.As filed
Strong
0%
6th percentile in peer grouppeer median 2.8%
lower is better
FY2017 cohort113 peers
Share of borrowers who defaulted within three years of entering repayment (U.S. Dept. of Education official cohort default rate). Shown for the FY2017 borrower cohort, the most recent cohort whose full three-year default window closed before the 2020-23 federal student-loan payment pause. More recent cohorts are reported by the College Scorecard at essentially 0%, but that reflects the payment pause (no payments were due, so almost no one could default), not borrower health, so the pre-pause cohort is the last meaningful reading. Lower is better.
Full-time faculty shareShare of faculty employed full-time, higher generally means more availability and continuity.As filed
Below peers
19.6%
7th percentile in peer grouppeer median 61.5%
higher is better
2024-25 (Scorecard)98 peers
Where these numbers come from
Every figure on this page carries one of these labels. They are not degrees of confidence: a projection is not a worse number than a filing, it is a different kind of claim, and the distinction is invisible when both are set in the same grey card.
As filedThis is the institution's own figure as filed with a federal collection, or a federal agency's own published figure about it. Ibex has not adjusted it.
Calculated from filingsCalculated by Ibex from figures in the same federal filing, using nothing but arithmetic: a share, a ratio, or an amount per student. It is exactly as sound as the filed numbers it divides.
Blended indexA blend of several other measures on this page, combined by Ibex. The components and how they are weighted are listed in this metric's description. Reasonable people could weight them differently and get a different score.
Modelled by IbexFitted or extrapolated by Ibex from the institution's reported history. This number appears in no federal file: it is a summary of a trend, and it inherits every irregularity in the years it was fitted through.
External projectionBuilt on an external projection about the future, published by a research body rather than measured. Projections are revised as the underlying assumptions change, and this one describes a scenario, not a fact.
Regulator / auditor findingA finding published by a regulator or an independent auditor about this institution. It is a statement someone made in writing, not a measurement Ibex or the school took.
Top fields of study (all levels)
Southwestern College’s largest fields by completions, with graduate earnings (4 years out) and debt benchmarked against the same field at its peer group. Sparklines show the 8-year completions trend.
| Field | Completions / yr | Median earnings, 4 yrs out | Median debt | Earnings premium | Risk score |
|---|---|---|---|---|---|
| Health Professions & Clinical Sciences | 40 | $51,082 30th pct · 49 peers | – | Below benchmark -3% | Moderate · 35 |
| Psychology | 13 | $56,149 18th pct · 14 peers | – | Above benchmark +7% | Moderate · 58 |
1 of 2 top fields shown have median graduate earnings below the NM state earnings-premium benchmark, an indicative flag under the 2025 federal earnings-premium test (effective July 1, 2026).
Earnings-premium status is an indicative estimate: median graduate earnings four years out vs the NM state median earnings of a high-school graduate (undergraduate credentials) or a bachelor’s-degree holder (graduate credentials) from the U.S. Census Bureau’s American Community Survey (2022 ACS 5-year). The official U.S. Department of Education determination uses its own cohort definition and may differ.
The risk score (0–100) is an indicative blend of earnings-premium margin and the five-year completions trend, higher means a field pays closer to (or below) the benchmark and is shrinking. A directional screen, not an official determination.
Major-level detail (CIP 4-digit)
Health Professions & Clinical Sciences – 2 CIP programs (4-digit), 1 with earnings
| Major (CIP 4-digit) | Compl./yr | Earn 4yr | Earn 1yr | % > threshold | Median debt | Debt/earn | Earnings premium | 2 of 3 yrs |
|---|---|---|---|---|---|---|---|---|
| Rehabilitation and Therapeutic ProfessionsCIP 5123 › | 39 | $51,082 n=46 | – | – | – | – | Below benchmark -3% | – |
| Health Services/Allied Health/Health Sciences, GeneralCIP 5100 › | 1 | – | – | – | – | – | – | – |
Major-level earnings, debt and threshold pass-rates are reported by College Scorecard only where enough graduates exist to protect privacy, so 1 of 2 majors show an earnings figure; the rest read “–”. % > threshold is ED’s own share of graduates out-earning the federal earnings threshold (the do-no-harm pass rate), drawn from the best available measurement window (4-, 5- or 1-year) pooled across all nine College Scorecard Field-of-Study releases; a small chip marks any figure not on the 4-year window, and hovering names the cohort size and source release. 2 of 3 yrs flags fields below the earnings-premium benchmark in two of the latest three reported cohort-years, the statutory trigger under the 2025 test (effective July 1, 2026). Indicative; the Department of Education’s official determination may differ. Source: U.S. Department of Education, College Scorecard Field of Study (2014–15 through 2022–23 cohorts + most-recent snapshot), accessed March 2026.
Psychology – 1 CIP program (4-digit), 1 with earnings
| Major (CIP 4-digit) | Compl./yr | Earn 4yr | Earn 1yr | % > threshold | Median debt | Debt/earn | Earnings premium | 2 of 3 yrs |
|---|---|---|---|---|---|---|---|---|
| Clinical, Counseling and Applied PsychologyCIP 4228 › | 13 | $56,149 n=31 | – | – | – | – | Above benchmark +7% | – |
Major-level earnings, debt and threshold pass-rates are reported by College Scorecard only where enough graduates exist to protect privacy, so 1 of 1 major shows an earnings figure; the rest read “–”. % > threshold is ED’s own share of graduates out-earning the federal earnings threshold (the do-no-harm pass rate), drawn from the best available measurement window (4-, 5- or 1-year) pooled across all nine College Scorecard Field-of-Study releases; a small chip marks any figure not on the 4-year window, and hovering names the cohort size and source release. 2 of 3 yrs flags fields below the earnings-premium benchmark in two of the latest three reported cohort-years, the statutory trigger under the 2025 test (effective July 1, 2026). Indicative; the Department of Education’s official determination may differ. Source: U.S. Department of Education, College Scorecard Field of Study (2014–15 through 2022–23 cohorts + most-recent snapshot), accessed March 2026.
See the interactive dashboard for all fields and credential levels (associate through doctoral). Source: College Scorecard Field of Study.
Frequently asked
How financially healthy is Southwestern College?
On the NACUBO Composite Financial Index, the −4 to 10 balance-sheet score accreditors and institutional boards use – Southwestern College scores 7.7 (Strong), computed from its IPEDS FY2022-23 finances. This is informational benchmarking, not a credit rating.
Are Southwestern College's programs at risk under the federal earnings-premium test?
Indicatively, 1 of the 2 largest fields has median graduate earnings (four years out) below the NM state earnings-premium benchmark at Southwestern College on the latest reported cohort. Within those fields, 1 of 2 individual majors with earnings data fell below the same benchmark, and 0 did so in two of the latest three reported cohort-years, which is the statutory trigger. The 2025 federal test (effective July 1, 2026) can withdraw Title IV eligibility from a program whose graduates earn less than a typical worker without the credential for 2 of 3 years. This is an estimate using College Scorecard field-of-study earnings against ACS state and national medians; the Department of Education's official determination uses its own cohort definition and may differ.
Which schools are Southwestern College's peers?
Southwestern College is benchmarked against 118 institutions in the Special Focus: Other Health Professions · Private nonprofit peer group; all percentiles and medians on this page are computed within that group.
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Source: U.S. Department of Education, College Scorecard & IPEDS (most recent releases), with the U.S. Census Bureau (ACS), the U.S. Bureau of Labor Statistics (Employment Projections, field-demand outlook) and WICHE (enrollment-cliff projections). Figures lag the current academic year by roughly two to three years. Percentiles and medians are computed within the institution's peer group. Financial Resilience is a transparent composite, see each component above. Compiled by Ibex Insights.