GREAT FALLS — The University of Providence has officially declared financial insolvency, citing major financial concerns in 2026. The decision comes after Providence Health System announced that it will discontinue its financial assistance to the school by the end of 2027, leaving the institution with an $8 million annual deficit to cover.
Quentin Shores reports - watch the video here:
“We already started doing some looking at all our programs… building efficiencies,” said interim president Dr. Caroline Goulet. “More to come in January and probably at a faster pace.”
When the institution heard that its financial "runway" had come to an end, the administration began planning for long-term viability. "We knew that we couldn't wait until… fall 2027 to do that," Goulet recalled.
Declaring financial exigency allows institutions to implement significant cost-cutting measures such as hiring freezes, salary reductions, program suspensions, and staff layoffs. UP had already begun to cut its budget, but an enrollment drop in Fall 2025 heightened the necessity.
“As soon as I came into position on July 1st, we started looking at the budget and saying, okay, let's try to cut five million. Then the fall happened,” Goulet explained.
To prepare for 2026, the institution plans to discontinue numerous small certificate programs that typically enroll one or two students. They will also divert faculty attention away from certain graduate programs, such as the nurse practitioner program, and toward more in-demand bachelor's degrees.
"A lot of our smaller certificate programs we created because the health care system would say, 'oh, it would be good to have a health informatics program,' but then we never tracked in more than 1 or 2 students," Goulet told me.
Despite the challenges ahead, UP is asking the community for help—whether through enrollment, financial assistance, or prayer.
“Send us students… We always take prayer, and we're not going to say no to financial support,” Goulet said.
While the process will be challenging, the institution remains optimistic that taking decisive action now will lead to a more stable and sustainable future.
