Spaulding: state colleges could go broke in months - Seven Days

The people holding the state’s purse strings who don’t want to close three rural state college campuses had better come up with a better plan soon, because the system will run out of money in just a few months, Chancellor Jeb Spaulding says.

"But Spaulding noted that the system would still need some sort of financial bailout even after throwing the three campuses overboard, and stressed that maintaining the status quo would come at a steep cost — even for a short period. He said the college system would need up to a $25 million injection from the legislature to address its current deficit — funding that would need to be annualized if it planned to keep the three campuses intact."

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