Illinois' public university system is in a world of hurt. The state owes its nine schools $900 million in back payments and the University of Illinois alone faces a $487 million appropriations shortfall. With the federal stimulus plan is set to expire, the state's FY 2011 budget will almost certainly contain additional cuts. And this all comes after years of disinvestment in higher ed.  Indeed, the state's general revenue now covers just 16.4 percent of university funding, down 22 percent in just two decades.

Faculty and students are understandably worried about the solvency of their institutions. And they aren't letting local elected officials off the hook.

Today, a group of University of Illinois-Chicago professors organized a mass furlough day to dramatize how cuts effect the school's day-to-day operations. About 100 classes were expected to be canceled. While on leave, a group of 125 UIC faculty members (joined by 50 students) delivered a letter to Gov. Pat Quinn urging his administration to make sure the state reimburses Illinois' colleges promptly. The group is also pressuring the General Assembly to build a sustainable budget that prioritizes education at all levels. Without full state funding, they warn, the school will be forced to drain its reserve fund, hike tuition even further, cut programming, layoff staff, and trim student aid. UIC will also have to reduce spending on its hospital system, which is a leading  Medicaid provider in the state.

"The [General Assembly] is keeping the state afloat by bookkeeping that would cause a private corporation to go bankrupt," said UIC professor Dick Simpson at a rally outside Quinn's Thompson Center office. Watch an excerpt from his remarks:

The reduction in state aid comes at the worst possible time. As the economy continues to flounder, a college education is seen as necessary to get a leg-up in the increasingly competitive job market. That has led to enrollment growth, especially for students that aren't financially secure. The Sun-Times reports this morning that applications for need-based financial aid grants are coming in at a record speed. In January and February, more than 180,000 Illinois students filed financial aid forms. That's up 21 percent from same period last year. Approximately 45 percent of those students (81,442) qualify for MAP Grants, which still has no permanent funding structure in place. That's is double the number of students deemed eligible just five years ago.

"Need-based aid is going to go early out the door," David Marzahl, executive director of the Center for Economic Progress, told the Sun-Times. "People that wait could be out of luck."

Last week, the Illinois Senate voted in favor of giving the state’s universities authority to borrow against back-owed payments. Simpson emphasized that the short-term borrowing plan only works if its clear the state will eventually pay off the bills. If they don't the system could "collapse permanently."

In the next few days, UIC  students and staff members plan to meet with a bevy of state lawmakers on this issue. On April 21, students and teachers from around Illinois will converge in Springfield for statewide lobbying day on behalf of higher education. "They haven't seen the last of us," said Simpson. "They're just seeing the first of us."