The president of Saint Joseph’s College in Rensselaer says the financial state at the more than 125-year-old institution is "dire." In a letter to members of the college community, Robert Pastoor said Saint Joseph’s is in need of $100 million in order to "provide the kind of educational experience that our students deserve." More urgently, he also said a $20 million influx is required by June 1st. The Board of Trustees is scheduled to meet next week to discuss the future of the college.
In November, the Higher Learning Commission, an independent accreditation organization that covers 19 states, announced SJC had been placed on probation because of its financial situation. He said "since I started, and intensively in recent months, my team and I, in conjunction with the Board of Trustees Finance Committee and Executive Committee, have explored numerous options to overcome the significant financial problems."
A spokesman with the university told Inside INdiana Business Pastoor was not conducting interviews until after the upcoming meeting with the board.
View the letter addressed to the Saint Joseph’s College Community: