As an alum I am not happy with what has happened to SU's admission standards over the last decade or so. Hopefully this will be an area of focus for the new chancellor, even if it means a smaller, more select student body.
I am willing to admit I do not know the first thing about running a university, and I keep an open mind around some of the decisions made. I strongly believe the recession had to have a disproportionate impact on private schools like SU, especially the non-ivies which have a less demonstrable ROI. Kids that were able to choose SU in the 90's have now opted for public alternatives (PSU, MD, etc.) in the face of depleted 529s and in general less overall wealth. SU had to react and widened its addressable market with relaxed admission standards. Hopefully the economy continues to turn around and SU is able to recover quickly.