CHICAGO — Loyola University Chicago has hired Robert A. Munson to serve as chief financial officer, filling a position being vacated by the retirement of Bill Laird after 11 years.

Munson will take the reins from Laird on Aug. 25. Munson will manage all financial departments, including budgeting and financial analysis, the bursar's office, payroll, purchasing, and the treasurer's office and will lead the university's budget review team. He will also collaborate with the Loyola University Health System which is part Trinity Health.

Munson previously served as CFO at Wittenberg University in Springfield, Ohio. Prior to his time at Wittenberg, Munson spent nearly 12 years at Xavier University in Cincinnati where he served  as vice president for finance, assistant vice president for planning and budgeting, director of financial planning and budgeting, and director for financial services. He previously worked for an accounting firm.

University president Michael Garanzini praised Laird for his achievements during his tenure. "He is a trusted colleague whose character, financial acumen, and commitment to fiscal responsibility helped us develop disciplined budgeting and spending policies that have put the university in a strong financial position for the next decade," he said.

The Illinois Finance Authority, which serves as the conduit issuer for the state's not-for-profit higher education institutions, is providing $390,000 in loans for undocumented medical students at Loyola.

The medical school is the only one in Illinois to enroll undocumented students granted Deferred Action for Childhood Arrivals' status under the 2012 program, according to published reports. The status allows qualified undocumented residents to obtain a work permit.

The IFA is making loans through a new program it administers for DACA related loans to state's seven medical schools and three dental schools. Graduates must provide a year of service in an underserved area of Illinois for every year they receive a loan.

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