When the Going Gets Tough
Loyola is keenly aware of the financial hardship facing everyone in the country. The University is committed to maintaining a high level of service while managing expenses. As we set the foundation for future growth through our capital campaign, we are also mindful of the need to conserve and to use every dollar to its best effect. Here are just a few examples of where our money goes and how we’re trimming costs:
- Loyola provides over $100 million in financial aid each year.
- 91 percent of undergrads receive some form of financial aid, almost all of which comes from the annual operating budget.
- We created a special hardship financial aid budget to help students whose parents have been severely affected.
- All departments have developed contingency plans to reduce operating expenses.
- Capital spending was slowed and certain projects are being deferred.
- The University is working with vendors to improve service and reduce costs.
- Loyola has reduced energy consumption in its facilities and negotiated a long-term energy contract to provide predictable energy prices.
- Full-time faculty will teach more classes.