Monday, March 25, 2024

New Jersey City University directed to find partner for financial stability - Natalie Schwartz, Higher Ed Dive

A state-appointed monitor overseeing New Jersey City University’s finances and governance has directed that the public institution partner with another college to put it on better financial footing, according to a report released Tuesday.  New Jersey lawmakers approved a law last year allowing the state’s higher education secretary to assign a monitor to financially struggling public institutions to help them avoid catastrophic budget failures. The law was enacted a year after New Jersey City University declared a financial emergency in the face of a nearly $23 million deficit.