Crain's Chicago Business reports:
Roosevelt University, confronting red ink, declining enrollment and a restive faculty, plans to dramatically shrink its Schaumburg campus, converting it to a branch of the Chicago campus and leaving it with just one college—pharmacy.
In an email on Aug. 18 to university recipients, Roosevelt President Chuck Middleton implied that much of the suburban facility opened in 1996 could be sold. He said he had instructed university executives to explore ways to “monetize” it. The campus serves about 3,000 students, according to Roosevelt's website.
There's more:
Roosevelt ran a $3.3 million deficit in the year ended last August, the latest IRS filing said, compared with a $5.2 million surplus in the prior 12 months.
Tuition, meanwhile, has jumped a third over five years, to $26,900, for full-time undergrads, according to a draft seen by Crain's of a faculty letter to Roosevelt's board of trustees
Full-time equivalent enrollment fell 12 percent, to 5,114, in the four years ended last fall, according to Moody's Investors Service, which in March reaffirmed its Baa2 rating on $226 million in Roosevelt debt.
The bubble is here, it's not like you haven't been
warned.
