The College of Saint Rose is planning faculty layoffs and program cuts.
The Albany Times Union reports the 4,500-student Roman Catholic college has a $9.3 million structural deficit and had a $4 million operating deficit last year, and 70 percent of its property is mortgaged. Now lenders are demanding the college improve its financial situation. "Like many institutions across the country, enrollment at the College of Saint Rose has declined in the past due to market forces and demographic shifts nationally," a college spokeswoman, Lisa Haley Thomson, told the Times Union. "Therefore, the college is beginning the necessary process of prioritizing its academic offerings."
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