Some tough decisions need to be made at Bradley University as the school looks to cut its budget by millions of dollars.
Officials say they are preparing to scale back the university's operation by $7 million. The cause of the budget cuts is a decline in enrollment over the last couple of years.
Paul Schroeder, Vice President of Enrollment Management, says a struggling economy may be partly to blame for the decline of incoming freshman. He says the relatively high cost of attending the private school may make some think twice before applying.
There's also a trend in K-12 schools causing enrollment to dip at Bradley.
"We are facing a decrease in the number of graduating high school seniors in the state of Illinois, along with the contiguous states from which we attract students," Schroeder said.
A Peoria School District 150 spokesperson confirmed D150 has seen a slight drop in the number of graduates. D150 graduated 796 seniors in 2014, down from 841 in 2013.
The budget cuts are not, for now, expected to result in layoffs at Bradley.
"We're not looking at that, we're looking at ways we can be more efficient," Vice Provost for Academic Affairs David Glassman said.
Glassman says the school may cut sections of courses and limit the number of electives offered during any given semester.
$2 million in cuts is directly aimed at addressing the revenue dip caused by the falling enrollment. Glassman says $5 million more will be cut in an attempt to get ahead of any future financial crunch.
Another $1.8 million in auxiliary services is set to be sliced out of the budget. Glassman says that particular cut was scheduled to take place before the enrollment issue was brought up.