University of New Jersey City declares financial emergency

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City University of New Jersey in Jersey City, New Jersey., declared a financial emergency and is asking for $10 million in state aid.

University officials said its financial difficulties, along with declining enrollment, had made it difficult to operate. They also said the pandemic has exacerbated these issues, reports nj.com.

“The university faces an unprecedented challenge, which is a direct result of historic underinvestment in the university and in black and brown communities, as well as a lack of funding relative to its peer institutions,” said Board Chairman Joseph Scott. “This, combined with a national trend of declining college-age student enrollment, has resulted in a long-term erosion of the university’s ability to function. The pandemic has only exacerbated these problems, further reducing enrollment and accelerating the decline in operating revenue.

The university’s board of trustees passed a 90-day budget so that the university could deal with structural deficits.

The announcement of financial difficulties comes even as the university has expanded on several fronts, including a mini-campus on the Jersey City waterfront, the west side of the city and facilities in the former Fort Monmouth .

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