Desperate times calls for desperate measures, or so Brandeis University believes. With a budget shortfall that may get to $10 million, the school plans to sell the entirety of the Rose Art Museum. Yes, this is the high education equivalent of bringing your mom’s jewelry to the pawn shop.

No, it’s not certain how much Brandeis will get for its art collection, since it’s questionable who can really afford art anymore. If the economy is so bad that you need to sell off your art, you’ve got to wonder who can still pay for it, especially considering the collection is practically swelling with masters like Matthew Barney and Andy Warhol.

The New York Times reports:

Faced with a decline in their operating budget and a shrinking endowment, the trustees of Brandeis University voted unanimously on Monday to close the Rose Art Museum and sell its collection to help shore up the university’s finances.

The museum, founded in 1961, holds more than 8,000 pieces. It is best known for its collection of modern art, including works by Andy Warhol, Jasper Johns and Roy Lichtenstein.

“These are extraordinary times,” Jehuda Reinharz, the president of Brandeis, said in a statement. “We cannot control or fix the nation’s economic problems. We can only do what we have been entrusted to do: act responsibly with the best interests of our students and their futures foremost in mind.”

The plan calls for the museum to be closed in late summer and turned into a fine arts teaching center and exhibition gallery. It is unclear how much the collection is worth. The university plans to take all proceeds from the sale and invest them back into the university.

Brandeis faces a budget shortfall that could reach $10 million, and the sale of the art is a step to help combat the deficit.

It’s a bit sad that it’s come to this, but colleges are hurting between investment losses and the decline in credit leaving fewer students able to pay for college. Unfortunately, art is hardly a liquid asset, and once it’s gone, the school will not be able to retrieve it.