I went over this in the other thread and the article you posted and the quote you gave was actually misleading when I looked back at past articles.
This is the quote you gave.
After the Fiscal Year 2016 report to the NCAA revealed Rutgers athletics had a $38.5 million shortfall in its $83.9 million budget that was made up by $27.2 million in support from the university's operating budget and $11.4 million in student fees
That makes it sound we're getting 27 million in institutional support and 11 million in student fees to make up the 38 million short fall.
But this is an excerpt from a previous article which makes more sense with regards to how the 38 million is actually derived and jibes with all the numbers in the projections and the loan.
In order to compensate for a shortfall of about $39 million in expenditures during the 2016 fiscal year, Rutgers athletics took out what amounts to a $10 million loan from the university.
That loan, which Rutgers officials say is an advance on future Big Ten revenues, is on top of the $28.6 million subsidy. The Rutgers athletics program received $17.1 million from the university's general fund, $11.4 million in student fees and $29,163 in state government support.
This makes more sense in that 17 million is direct institutional support as has been show in projections, 11 million is student fees (which aren't going anywhere) and 10 million from a loan.
From a later article that 10 million loan actually ended up being 6.1M
It's actually a $6.1 million loan
In late-January, Rutgers AD Pat Hobbs told NJ Advance Media the athletics department took out what amounts to a $10.495 million loan from the university’s internal bank.
Well, that loan is actually $6.1 million, according to the university’s transition plan document.
J. Michael Gower, the university's executive vice president for finance, confirmed that loan total in an exclusive interview with NJ Advance Media on Monday evening.
Gower said KPMG, the auditors handling the Rutgers athletics Fiscal 2016 report, factored the $6.1 million loan with other figures, including a $1.7 million cost attributed to a change in accounting procedures.
“In that $10.4 million, $6.1 million was the loan,’’ Gower said. “The balance of that were transactions with closing out the department and various other things associated with our new budget model. But didn’t have to do with the loan. It was primarily the loan but not exclusively.’’
There are extra annual loans projected up through 2021 which will end up having principal of 18M and interest of about 5M so 23M total in loan repayment to the university.
So to simplify, what really needs to be eliminated is the 17M direct institutional support and a 23M dollar loan. The support is projected to go to zero by the time we get a full payout and the loan will be serviced/run off in time. The student fees will still remain and the budget is going to go up, just not dollar for dollar with our B10 revenue increases.