For the current problem, the "fiscal hawks" in the House who were lambasted in the media by the Jindal Administration were 100% correct this past session. The state over-budgeted. They've been over-budgeting the past 5 years because Jindal and the spineless legislators would like to declare at the end of each session they "saved" Higher Education from drastic cuts, then act all surprised mid-year when they have to make those very same cuts they "saved" everyone from.
Here's the thing. These cuts should have been in the budget passed last session. Sure, it would hurt. But spreading $22 million in cuts over 12 months is a hell of alot better for everyone involved then suddenly saying, "Hey, we need to cut $22 million, and now, you have only 6 months to do it"! Lots of legislators in our Acadiana delegation folded (were bought off) for the Administration during the budget debate 6 months ago. They sure got their local projects funded in Capitol Outlay, though!
Going forward: YES, we need to start merging/shutting down 4 year schools. We have too many in the state for our tax base to effectively support. Again, though, spineless politicians in Baton Rouge.