Loyola University (New Orleans) University develops long-term budget plan - Marie Simoneaux, Maroon

After a year and a half of increased marketing, budget cuts, voluntary severances and decreased retirement contributions, Loyola has closed its budget deficit by $5.8 million. In the fall of 2014, Loyola announced that the university had a $7 million deficit, mostly due to declining enrollment numbers. However, Jay Calamia, vice president of finance and administration, said that the deficit has decreased to $1.2 million. Calamia said this is where the university expected to be at this time. http://www.loyolamaroon.com/10002750/news/university-develops-long-term-budget-plan/