UL System releases preliminary budget numbers

The University of Louisiana system has released preliminary numbers about the effects of a potential 28% budget cut on the eight-college system. The cuts would take $116.4 million out of the UL operating budget, leading to the loss of about 60 degree programs, 1,500 jobs, 3,000 temporary layoffs and an enrollment drop of 12,000 students. “In a state where only 20% of its population holds a bachelor’s degree or higher, a potential loss of 12,000 students will have devastating and lasting effects,” school officials say in a statement. The loss of faculty, staff and students to other states could have a ripple effect; based on multipliers from the Bureau of Economic Analysis, the faculty and staff layoffs could have an annual loss of $110 million to $125 million, while a reduced number of students would hurt the Louisiana economy by $225 million to $375 million every year. The cuts would also hurt economic development activities, since there would be less money for research, patent development or partner research with industry.