"We have a budget based on a certain number of students each year and that number was lower than we had anticipated this year," says Julie Gaynor, Midwestern State University's Public Information Director.
With about 250 students less from last year, Gaynor says when numbers drop that significantly it can have a big effect on school funds.
"When we have that type of drop in number that's also less money that we receive in revenue in tuition and fees," Gaynor says.
While no actions have been taken yet to start lowering the debt amount, Gaynor says plans are in the works.
"We're looking at ways that we can make that up in our budget for this next year," she explains.
Dr. Rogers, MSU's President has reportedly already presented several ways in which the school can make up the money lost. Just over $120,000 can be taken from mineral royalties, while another $100,000 in un designated funds will be put towards offering more classes.
"What that's going to do is that's going to allow us to offer more nursing and radiology science classes to hopefully bring in more revenue," Gaynor says.
Classes that have long waiting lists insure the university will get the money they need from students.
Gaynor says,"They also anticipate a savings of about $100,000 in hiring restrictions."
That means that the school will not be as quick to hire for additional positions, saving money on new salaries. All in all Gaynor says while the school continues plans to erase this deficit, they still see the importance of growing and offering more opportunities to students.
"It's important that we continue the quality for our students, that we continue to grow and meet those needs and our operating budget, we will have to take care of that and we will have to find the cuts from somewhere," says Gaynor.