Over the past several months, The Outlook has received reports from students and employees about changes happening across Monmouth University, including reduced student employment hours, staffing departures, and concerns about university spending. The reports prompted The Outlook to examine the university’s financial situation, how budget decisions are affecting the campus community, and what changes students can expect moving forward.
In a response to The Outlook, University President Patrick Leahy described Monmouth’s overall financial position as strong, citing its largest endowment to date and low levels of outstanding debt. Still, he acknowledged that rising expenses and changes in college enrollment are putting pressure on the university’s finances.
“American higher education is undergoing major transformation right now, in large part due to demographic changes resulting in a decline in high school graduates, as well as declining interest in attending college,” University President Patrick Leahy told The Outlook.
Leahy also identified rising labor and benefit costs and increased competition for students, particularly in the Northeast, Monmouth’s primary recruiting market.
The university ended its most recent fiscal year with an operating deficit. In an email to employees following a July open meeting, Leahy outlined the administration’s financial priorities.
“To maintain our relative financial strength, we must take action to eliminate our operating deficit and return to surpluses, which can then be reinvested in the University’s programs, operations, and physical plant,” Leahy wrote.
Alongside that call for action, Joseph Pingitore, associate vice president for finance and budgets, offered this assessment of the university’s finances:
“Monmouth is in a strong overall financial position as it has an endowment of nearly $200M and is one of just a handful of higher education institutions in the country with near-zero debt,” Pingitore said. “From an operating budget perspective, there are challenges in balancing available revenues with growing expenses.”
“This situation is not unique to Monmouth as many higher education institutions are facing similar challenges,” he added.
Those broader financial explanations leave questions about how the university determines where to make cuts and how it assesses their effects on students. Leahy told The Outlook that the university is working to manage expenses while keeping a Monmouth education affordable. He said he does not anticipate significant changes to course availability or student services.
Student employment
Monmouth’s overall student wage budget decreased from $1,064,000 last academic year to $945,500 this year, according to Pingitore—a reduction of $118,500, or approximately 11%.
In an email to university colleagues, Pingitore announced that student wage budgets for the fiscal year had been loaded and included a reduction approved by the Board of Trustees. Departments were instructed to prioritize Federal Work-Study (FWS) students when appropriate, distribute student work hours carefully and, monitor spending throughout the year.
The email also directed departments to adjust schedules, reduce hours or delay hiring if they risked exceeding their allocations. No additional student wage funding would be provided by the central budget.
The Outlook asked Pingitore how the university determines those allocations.
“The student wage budget is developed annually as part of the overall budget process and final allocation decisions are made based on anticipated needs, available FWS funding, and the University’s overall financial position,” he said.
Pingitore said the university reviews departmental needs and available resources, along with its strategic objectives and financial sustainability. He said the budget process prioritizes academic programs and student-facing services.
As of November 2026, Monmouth employed 597 students across 770 job placements on campus and through off-campus community partnerships, according to Sandy Brown, director of student employment.
“We continue to see consistent interest in student employment, particularly at the start of each semester, with students seeking opportunities throughout the academic year,” Brown said. “We have not experienced a decrease in student interest.”
Departments identify their staffing needs and request student employees within their approved budgets. Asked whether student demand currently exceeds the number of available positions, Brown said, “Currently, student demand is not exceeding the number of available employment opportunities. Positions become available throughout the year as university departments identify their staffing needs.”
For students already employed, the number of available hours and the funding supporting their positions also shape their work experience.
“Student work hours, including the number of hours students are scheduled to work each week, can vary from year to year depending on several factors, including departmental budgets, staffing needs, and individual Federal Work-Study awards,” Brown said.
The Office of Financial Aid determines FWS awards based on financial need, cost of attendance and other financial aid received. Brown said those factors affect students’ eligibility and award amounts.
One student who works an on campus job and who wished to speak with us off record, said their workload has increased this semester. The additional responsibilities have made it harder to balance work and school while managing their Federal Work-Study funds.
“I’m going to have to end up switching off of my federal work study in probably a month,” the student said. “I’m already about to run out of money. Which is insane to not even have the (entire) first semester to have that.”
The student said others have also reconsidered their schedules and priorities because they cannot afford to maintain multiple jobs.
Another account came from a student who also wished to speak with us off record while discussing employment in undergraduate admission.
“All Ambassador hours have been cut and many only have just one shift a week whereas in previous years it was normal to have around three, if not more,” the student said.
Caroline Hurtt, assistant director of undergraduate admission, oversees the student ambassadors.
“In order to develop and assign work schedules, we review student staffing in relation to the office workload and campus tour volume throughout the week,” Hurtt said. “The primary responsibility of our student ambassadors is to provide campus tours to prospective students and their families.”
Hurtt acknowledged that the scheduling changes have affected ambassadors. She said the office continues to offer opportunities to pick up additional hours during busier periods when more when more support is needed.
Residential Life and academic staffing
Residential Life plans to reduce its student staff from 56 to 43 positions for the 2027–2028 academic year, according to an email to continuing student staff.
The changes include eliminating the community assistant position that oversees campus apartment living. Current community assistants will have the option to apply to return as resident assistants.
The department will also reorganize its duty system by grouping residence halls into three communities, with two resident assistants on duty each evening for each community. A new FWS position, apartment operations assistant, will oversee apartment operations during weekday evenings.
Resident assistants receive free housing and $1,500 off their meal plans. Their compensation will remain unchanged for the 2027–2028 academic year.
In academic departments, a university administrator who spoke to The Outlook off record discussed the faculty hiring process.
“The hiring of faculty is, I really don’t know the right word. I wanna say slowed down, more under scrutiny, it has to be more deliberate,” the administrator said.
The administrator pointed to one department where several faculty members have retired.
“We need to hire some people … in that department just to stay where we are,” the administrator said.
The discussion also turned to how departments handle the work left by departing employees.
“They’re not gonna do everything that the original two were doing, and so you have to make sure that the things that are not being picked up now are either picked up somewhere else and don’t have an impact on the students,” the administrator said.
“I feel like the administration is trying to, get this right and not have too much of an impact on the students. I think there’s gonna be an impact. Well, you’re seeing it.”
Student concerns and university responses
Previously introduced student who discussed Federal Work-Study for this story off record also spoke about the information students receive from the university.
“I do think that people are starting to notice that there’s things going on and that there’s not full transparency coming to students,” the student said. “There’s a missing transparency from the administration to us.”
The student described conversations with classmates, particularly those nearing graduation.
“I think I’m hearing it from a lot of students, especially seniors now that are just like, I’m ready to be done,” the student said. “I’m kind of getting to the point where it feels like something’s going wrong and I’m ready to get out of here before it gets really bad.”
University officials offered a different assessment of the effects on student services. Vice President for Student Life Jim Pillar said budget and staffing changes have not reduced or disrupted Student Life programs and services.
“Students continue to have access to all Student Life services, including counseling, health services, dining, housing, and Student Engagement programming,” Pillar said.
Amy Hoyle, dean of the School of Education, said she was not aware of reductions in funding for academic programs, instructional resources, or student support. She also said the university has not reduced course offerings because of budget changes and that staffing changes have not affected School of Education students’ ability to complete required classes or graduate on time.
Voluntary separation program
Monmouth’s voluntary separation program is another part of its effort to manage expenses. Leahy described the program as part of the university’s ongoing approach to managing resources and planning for the future.
During an October board update, he reported that approximately 50 employees had applied and that all applications were accepted.
In his response to The Outlook, Leahy did not provide the program’s total cost or the amount the university expects to save annually. He said Monmouth is still reviewing which vacated positions need to be filled and when.
“Our goal is to avoid any additional staff reductions to the greatest extent possible,” Leahy said.
The Outlook contacted several individuals who applied for the program and who initially agreed to speak with the newspaper. After following up, they said they were no longer comfortable talking to the newspaper. However, they expressed support for the student newspaper and its decision to investigate the matter.
University projects and financial records
Monmouth’s fundraising campaign and planned campus projects have also raised questions about how the university allocates its resources.
A Dec. 10, 2024, article on Monmouth’s website, titled “Monmouth University Launches Most Ambitious Fundraising Campaign in its History,” outlined plans for two major building projects expected to open in 2026: the Bruce Springsteen Archives and Center for American Music and the student wellness center.
The article described the wellness center as an expansion of the OceanFirst Bank Center’s (now Hackensack Meridian Athletic Center) health and fitness facilities. At the time, the university reported that 75% of the project had been funded.
When asked about the status of this project given that it was nearly completely funded two years ago, Pingitore said, “The student wellness center project is currently on hold. Additional information about this project will be released in mid-2027.”
The previously cited student who discussed Federal Work-Study and wished to speak off record also addressed the project.
“I don’t think that it is ever coming. That’s my take on it, it’s never coming,” the student said. “I don’t know if anyone knows if it’s happening. There is a sign that says ‘coming soon,’ but, is it? And where did the money go is my follow up question.”
Pingitore said funds raised through the Excellence. Access. Ambition. campaign serve several purposes, including student scholarships, capital projects, and general operating support.
Financial records provide additional context for the university’s position. Monmouth’s fiscal year 2025 Form 990, covering July 1, 2024, through June 30, 2025, reported $277.3 million in revenue and $270 million in expenses, leaving approximately $7.3 million more in revenue than expenses.
The filing does not establish that the difference represents an unrestricted operating surplus, and it predates the most recent operating deficit acknowledged by Leahy.
The Outlook also asked about Monmouth’s financial relationship with the Bruce Springsteen Center for American Music, which opened on campus in June 2026. The Center’s 2024 Form 990 reported $1,447,495 in liabilities owed to Monmouth University. Leahy said the amount represents expenses processed by the university and later reimbursed by the Center.
“The Bruce Springsteen Center for American Music is a wholly owned subsidiary of Monmouth University,” Leahy said. “Consequently, the Center’s financial results are consolidated into the University’s results at the end of the fiscal year.”
Leahy said Monmouth does not contribute operating funds to the Center but provides institutional support through information technology, event management, and fundraising. He said that support is consistent with what the university provides to its other centers and institutes.
For its first full year of operations in the new building, the Center has projected $1.5 million in annual operating expenses. Leahy said revenue and gifts generated by the Center itself will cover those expenses.
University officials have described Monmouth’s overall financial position as strong while acknowledging pressure on its operating budget. Their stated goal is to address that pressure while protecting the student experience. Students and employees are already navigating changes to work hours, staffing, and university operations, while the cost and projected savings of the voluntary separation program remain undisclosed and further information about the wellness center is expected in mid-2027.
