The 2008 financial crisis took a toll on Ave Maria's finances.Monaghan said in 2012 that Ave Maria's construction cost estimates doubled over three years, requiring the university to cut back on planned buildings.
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Contraception and porn would still be banned from the university. The university's rating was in "Tier 2", below 178 other American colleges ranked in "Tier 1".
Although they were both established by Monaghan, the Ave Maria School of Law and Ave Maria University are separate entities.
In 2011, James Towey, former Director of the White House Office of Faith-Based and Community Initiatives and former President of Saint Vincent College, was named the president of Ave Maria University after a unanimous vote by the AMU Board of Trustees.
He also assumed the role of CEO, in the place of Monaghan, who remains the Chancellor.
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Ave Maria University (AMU) is a private Catholic university in Ave Maria, Florida.
The Barron Collier family donated the land in southwest Florida for the campus, joining Monaghan in the enterprise as 50% partner.
While the infrastructure of the new campus and town were being completed in early 2007, the Ypsilanti campus was also closing at the end of the 2006–2007 academic year.
The Ave Maria School of Law is controlled by a board that is independent of AMU.
Ave Maria School of Law is a fully American Bar Association-accredited Catholic law school, located on a campus in Naples, Florida.
Monaghan's goal was to create a Roman Catholic university faithful to the magisterium of the Catholic Church, providing a liberal arts education in a Catholic environment.