GRAND RAPIDS (WKZO) -- Calvin College is facing steep budget cuts after investments made in 2008 fail to produce expected returns.

School administrators say Calvin could be strapped with a ten-million dollar shortfall in 2017 when their loan payments come due.  The school said their  investments failed to produce returns because of the recession.

Officials will look at finding new sources of revenue and potential spending cuts with a final recommendation due in May of 2014.