A University Pays the Price for Relying on One Source of Funds

When Loyola's medical center stopped bailing out the institution, everything fell apart

In 1993, the Rev. John J. Piderit was named president of Loyola University Chicago, an exalted post among the nation's 28 Jesuit colleges and universities.

Loyola was the wealthiest of the Jesuit institutions, and arguably the most complex, with graduate schools in medicine, law, business, nursing, theology, social work, and education.

Father Piderit, a Princeton-trained economist who

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