NIU Hit With A Double Dose Of Bad News
June hasn’t been kind for the Dekalb University.
Last week it was announced that NIU had suffered a hit to their credit rating.
IllinoisPolicy – Moody’s Investors Service announced sweeping credit downgrades for seven Illinois universities on June9. Five of those seven – Southern Illinois University, Northern Illiinois University, Governors State University, Northeastern Illinois University and Eastern Illinois University – now have junk credit ratings.
This has everything to do with the current financial crisis the state currently finds itself in. Illinois colleges have obviously taken notes from the state on how to spend their money. These schools find themselves in financial ruin, even after nearly doubling tuition in the past decade.
The problem starts at the top. Just like everything else in government, there are too many cooks in the kitchen. There are just too many administrators at the top to be financially responsible. Which leads us to their second bit of bad news.
WREX – In a meeting with the Northern Illinois University Board of Trustees Thursday morningm Doug Baker announced he will be stepping down as president of the university. Baker’s resignation comes on the heels of a report released last month by the illinois Office of the Executive Inspector General on their investigation into allegations of improper hiring of affiliate employees at NIU.
One hopes that the resignation (firing) of Doug Baker is the first domino to fall on the path to financial responsibility but considering that it involves the state of Illinois I wouldn’t hold my breath.