Media Statement on SACSCOC Decision 2019
(New Orleans – Dec. 10, 2019) Loyola University New Orleans learned today that its regional accrediting agency, the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC), has removed the university from a temporary financial probation. The decision by SACSCOC was based on a cumulative review of the University’s past financial performance, as well as this year’s balanced budget and positive financial outlook for the future.
“This is wonderful news and a testament to the powerful work that can be done when a community—faculty, staff, students and alumni—work together with clear purpose. The Loyola community has achieved a remarkable turnaround, balancing budgets and restoring enrollment,” said Tania Tetlow, president of Loyola. “We have become an innovative and entrepreneurial institution at a crucial moment, a time of greater competition in higher education.”
The temporary one-year financial probation imposed last December followed a temporary enrollment downturn from 2013 to 2016. Through an all-hands effort on campus over the last several years, Loyola has not only found efficiencies and cut expenses, but has also increased and diversified revenue. Enrollment has been restored for the past three years, and this fall Loyola welcomed one of its largest first-year classes ever.
Loyola’s budget is balanced with an operating surplus and positive projected financial outlook for 2020. The University has a $215 million endowment, which has allowed it to keep academic programs stronger than ever.
This fall, Loyola successfully completed its $101 million Faith in the Future campaign and attained status as a Top 200 national university in U.S. News and World Report rankings, tying at 76th in the nation for undergraduate teaching, alongside Boston University, Columbia, NYU, Northwestern, UCLA and others.
Loyola was reaccredited three years ago after passing 96 measures of academic performance and has remained fully accredited during financial review. The University has complete confidence in its current and future financial health and welcomes the opportunity during the year ahead to prove that further.
For more information about Loyola, please visit loyno.edu.