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Louisiana State to Draft Insolvency Plan as Jindal Cuts Loom

Louisiana Gov. Bobby Jindal speaks at the First in the Nation Republican Leadership Summit April 18, 2015 in Nashua, New Hampshire.

Louisiana Gov. Bobby Jindal speaks at the First in the Nation Republican Leadership Summit April 18, 2015 in Nashua, New Hampshire.

Photo by Darren McCollester/Getty Images
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Louisiana State University will draw up a financial exigency plan, equivalent to college bankruptcy, as budget cuts proposed by Governor Bobby Jindal threaten to cripple the higher-education system.

Exigency, declared when schools face insolvency, would allow the state’s flagship institution to restructure and fire tenured faculty.