For several years now, college officials have worried about the possibility of major economic shifts in the higher education market that might foreshadow major financial problems in the near future.
What Loyola University New Orleans experienced this summer probably won’t put them at ease.
The university faces an expected budget shortfall of up to $9.5 million after first-year enrollment deposits came in almost 300 students short of the university’s expected goal of 875 students. Since the deposit deadline of May 1, the college has taken steps to enroll more students, including increasing financial aid awards, and university administrators now expect to enroll a class of about 600 to 625 students.
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