Inflation relief debit cards to be sent out to Californians starting today
A total of 3,638 students were impacted by the California State University and CalPoly SLU closures in the fall, but over 3,500 employees lost their jobs as a result.
The university said last year’s closure has left it with a $2.4-billion hole
It said it was working to create ‘a new campus’ for Cal Poly SLU following the April 27 announcement of the university’s intent to dissolve its statewide public institution of higher education.
The board of trustees voted 5-2 on August 18 to close the university in an attempt to save $120 million and complete a $2-billion capital campaign.
‘This is a day of great pain and regret for Cal Poly students, faculty, staff, and the University of California,’ President and former Vice President for Student Affairs Gary Shier said in a statement released Tuesday.
The decision is ‘the result of a strategic and difficult decision, but one that will position our university to move forward and grow in the years ahead,’ Shier added.
Cal Poly’s board of trustees plans to dissolve the university in an attempt to save 120 million dollars and fund a $2 billion capital campaign.
Cal Poly closed its doors for the 2014-15 school year on April 27 after the Board of Trustees voted to dissolve the university. It is now left with a $2.4 billion hole, according to The Sacramento Bee.
The state of California will provide $120 million to close the school and fund a three-year $2 billion capital campaign. The state will also invest $1.4 billion for buildings, equipment, facilities and services in a deal that could yield $1.4 billion for the university’s remaining $650 million in bonds.
Cal Poly’s board of trustees voted 5-2 on August 18 to close the university in an attempt to save $120 million and complete a $2-billion capital campaign.
‘This is a day of great pain and regret for Cal Poly students, faculty, staff, and the University of California,’