Faculty and staff gather for University Convocation

Coming together in common purpose was the theme of University Convocation on September 5, an occasion for staff and faculty to receive updates from University leadership and connect with colleagues at the start of the academic year.  

An audience of 300 in Rooney Hall, along with attendees at group viewings on the Water Tower and Health Sciences campuses, heard President Mark C. Reed and Provost Douglas W. Woods share a snapshot of a robust and diverse entering class, offer updates on strategic and campus planning, and explore the ways Loyola University Chicago’s Jesuit mission and methods are key to the University’s continued leadership.  

The two leaders discussed how Loyola’s mission strengths help navigate headwinds facing tuition-driven institutions.

In gathering, Reed said, “we are aware that we all perform distinct functions and have varying responsibilities. But at a university such as Loyola, we are also all educators no matter our roles.”

Reed described traveling recently with members of the Board of Trustees and senior administrators on an Ignatian Heritage Pilgrimage following in the footsteps of St. Ignatius. A highlight of the journey was a private audience with Pope Francis at the Vatican Apostolic Palace. The Holy Father spoke to the Loyola delegation about the vital mission of Jesuit institutions in today’s world. He spoke eloquently of educating “the head, the heart, and the hands.”

Robust fall enrollment 

President Reed reported on healthy university finances and enrollment. Loyola received 43,000 applications for this year’s undergraduate class and enrolled 2,800 students, above the University’s target. He credited the efforts of admissions, financial aid, and enrollment management officials for building a robust class of 2028 in the face of extreme delays and dysfunction with the FAFSA (Free Application for Federal Student Aid) system. Reed reported that 54 percent of the class identify as students of color and that this year Loyola has first-year students from every state except for Montana, North Dakota, and Wyoming. Transfer student applications increased 25 percent over the prior year, and newly enrolled transfer students rose 37 percent.  

Graduate programs continue to see variability, Reed noted. Overall enrollments are slightly down from last year but exceed the budget target for this year. The most selective school at the university remains the Stritch School of Medicine, which received over 12,000 applications for the 170 spots available.  

“There is no doubt that Loyola remains an attractive institution for prospective students at the undergraduate, graduate, and professional levels,” Reed said, but he cautioned against complacency. “Each year, each cycle, is a new one, and we can all assist and play a role in supporting the recruitment and retention of students. We are all educators, we are all changing lives. Everything we do should be in service of an excellent, well-rounded education for all of our students.” 

Solid financial foundation 

Reed said that Loyola is in solid financial condition at a time when some peer institutions are struggling with deficits. “For more than 20 years running, Loyola has modeled financial discipline while making major investments in new academic programs, student services, and campus facilities and infrastructure,” he said. He pointed to planned debt reduction and increased grants and contracts as factors in consistently positive operating results. He cautioned against overconfidence, noting the demographic cliff—a steep drop-off in the numbers of high school graduates nationwide, particularly in the upper Midwest states, which will begin to be felt in 2026.  

Reed also noted that this year’s operating margins are reinvested back into the university in the form of debt payments, designated funds for schools and academic programs, facilities renewal, and long-term reserves. Gift and investment performance saw Loyola’s endowment exceeded $1 billion. Endowment and long-term investments finished the fiscal year at $1.25 billion; generally, endowed funds are designated for specific uses, and only a small portion of endowment is available in any year. 

Campus planning moves forward 

Reed discussed Loyola’s current Campus Plan, which is identifies facility and infrastructure needs and prioritizes future campus improvements. Initial priorities on the Lake Shore Campus include new academic buildings to support the natural and physical sciences, forensic science, nursing, and health sciences; new or renovated student center space and amenities; state-of-the-art space for the Office of Student Success and related services; new recreation and fitness space appropriate to a residential university of Loyola’s size; and a new welcome center to facilitate optimal experiences for prospective students and their families. The plan also places increased attention on the campus perimeter, pedestrian safety, sustainable landscaping, and community connections.  

Strategic and campaign planning  

Reed noted there was broad support for the underlying values and aspirations articulated in the University’s Strategic Plan. Provost Woods and he will bring a team together to collaborate and present an updated strategic plan “to ensure we are making decisions looking ahead as much as possible and enable all schools and departments to easily connect their work and plans to the institution’s goals.”  

Planning for the University’s next comprehensive capital campaign continues along a steady path, President Reed reported. Fifty percent of the overall goal is designated for scholarships and financial aid, along with related support services, making it the highest priority of the campaign. The other half of the campaign goal will support academic initiatives such as endowed chairs and professorships, fund innovation and research, and help attract world-class teacher-scholars. Student initiatives include expansion of educational and residential space to provide a premier student-centered living and learning environment, support for competitive Division I athletics, programs and spaces that foster a welcoming and inclusive campus culture, and capital projects to support all of this. Reed said that more than $45M was raised in fiscal year 2024 and the total raised since fiscal year 2020 is more than $250M.

Higher education landscape 

Provost Douglas W. Woods, eight weeks into his tenure as Loyola’s provost and chief academic officer, began his remarks by introducing himself and noting his background as a clinical psychologist, faculty member, and academic leader in the University of Wisconsin system, Texas A&M University, and most recently, at Marquette University in Milwaukee. He outlined his research interests in developing non-pharmaceutical approaches to tic disorders like Tourette’s. 

Woods reviewed demographic trends and debates over the value of higher education. He mentioned that the regions from which Loyola recruits the bulk of its students–primarily the upper Midwest–will soon have significantly fewer students graduating from high school. “If we do not change our current approach, we will see a significant decrease in undergraduate student enrollment at Loyola starting in the fall of 2026, and a 10-15 percent decline in undergraduate classes could be fully realized in our student body by 2032 based on demographic projections alone.“ 

Woods noted downward price pressure on universities and questions about the value of college and higher education in general. “Of course, you and I and the data believe in the value of higher education, but other data suggest the public is beginning to become skeptical. In summary, if we do nothing…if we pretend these challenges are not happening or won’t impact us, in a few years, we are likely to be looking around wondering what happened to our University.” 

A strong focus on mission 

Faculty and staff can join together to counter these trends, Woods said, by seeing themselves as a part of the whole. “We must understand that recruitment involves all of us. We need to make sure our programs are desirable to students, that they are price competitive, and that they are offered in the modalities, locations, and at times the students want. We also need to have the learning spaces, living spaces, and campus amenities our students expect.” He pledged to work across the University in the continuing effort to improve retention and graduation rates. 

Woods encouraged faculty and staff to revisit the University’s mission and vision statements and reaffirm the elements of Jesuit higher education that continue to foster excellence and purpose in new generations of students. The commitment of faculty and staff to mission potentiates the University’s academic and fiscal strength in a volatile higher education landscape. “Our strong focus on mission helps guide our decision-making through turbulent times,” he said. “We can prepare for the situation and be proactive, rather than having to react to an acute financial concern as many Universities find themselves having to do,” Woods said. “We still have time to adjust and respond to the demographic shifts and headwinds we face.” 

“The headwinds Loyola is facing are real and not likely to subside in the foreseeable future,” said Reed. “However, from where I stand, Loyola University Chicago is so fortunate and strong, with a bright future. Each of us as educators regardless of our job title, are changing lives in meaningful ways.”