Amid state and federal funding challenges, the public Midwestern institution has already cut tens of millions of dollars in spending in recent years.
The two versions agree on consolidating repayment plans and adding accountability for student outcomes, but vary in key ways.
If passed, the legislation would formally ban educational institutions from discriminating on the basis of ethnicity, in addition to other protected classes.
Amid enrollment declines, the historically Quaker institution has until December to show its accreditor a balanced budget for the 2026 fiscal year.