Loyola students host teach-in on university finances

New Orleans, LA - On November 13, students packed a room to hear about their university’s difficult financial future and anincreasingly bloated and unaccountable administration.

The Muslim Student Association (MSA) and members of Students for a Democratic Society (SDS) created an exposé highlighting their campaign demanding that Loyola disclose their $250 million endowment fund.

Students were especially frustrated with tuition increases and cuts to their financial aid to bail out the university from its poor financial management.

“Loyola’s plans for the future are not looking great. You can expect tuition to increase from $47,390 to $51,656 and total financial aid to drop by 3%. This is all for what admin has called a ‘premium education’,” said Nadir Benslimane, a Liberate and Unite New Orleans (LUNO) SDS member. “If you think this premium education means more classes and higher paid professors, you’d be wrong. Loyola plans to hire two more vice presidents who will make over $300K, bloating our administration while professors who have worked here for 15 years haven’t ever seen a raise.”

On top of extreme tuition increases, this panel exposed the board of trustees and the corporation that controls the endowment fund and where that fund is invested. “The board of trustees iscomposed of wealthy business owners whose interests do not align with students’ material interests by any means,” said Miu Sims, an SDS member.

The exposé revealed that the university’s “ethical investment statement,” despite pandering to the Jesuit and Catholic values regarding investments, includes a clause that says ethical investing is very hard, and so they are free to do as they wish. The “corporation” is a small group of high-ranking Jesuits who control the board of trustees and have the ultimate say on where the investment fund ends up.

“The corporation excludes all outside perspectives by only hiring Jesuits and those in ‘good standing’ in the Society of Jesus, meaning only men can be on this corporation,” said Mae Guidry, SDS member.

The Jesuit Order has released several statements on the genocide of Palestinians and Pope Francis, a Jesuit, has called Israel a terrorist state. “They [the corporation] claim to represent Jesuit values but only at their convenience and your silence,” continued Mae.

The panelists then explained the retaliation that students have faced for demanding disclosure and exercising free speech and expression. “We’ve been consistently struggling for financial transparency, the right to free expression, and a meeting with admin. Now, two students have been fired for protesting; people are on disciplinary probation, and the administration is consolidating its power to shut down student free speech,” said Nour Saad, president of Loyola MSA.

The panelists concluded with a call to action to sign a letter to the president of Loyola, Xavier Cole, the Loyola board of trustees and the corporation with the following demands: Disclose all investments made by the university; divest from all companies related to Israeli apartheid; rescind all institutional sanctions placed on students related to free speech and expression, including but not limited to protesting, and calling for meetings with relevant university administrators regarding the above demands, including but not limited to President Xavier Cole.

This event served as a way to unite students around disclosure and institutional transparency.

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