How about save money for both students and the university. Drop the absurdly nice housing that's going into them. This will reduce room & board fees and cut staffing, construction, & maintenance costs for the university.
Athletics: Drop athletes that aren't student athletes. I'm sorry, but illiterate players don't belong in college. It's a disservice to them, the rest of the students, and the university's reputation. Stop spending astronomical amounts on football (primarily) and other sports, even if it pays for itself it's not needed for an academic environment. Rein these in, keep athletics but cut the programs so they aren't (budget-wise) on the level of some professional teams.