I am an MRU aviation graduate, and all I can say is that the old C172's were leased for a period of time. The lease was over, so they had to return all the aircraft to the owner. Once Mount Royal became a University, I believe that each program got X amount of cash from, presumably the government, to boost and modernize their program to become more appealing to the public. Some got more, some not so much. This, together with the extra cash generated from this years and last years students' increased flying rate helped pay for the brand new fleet of four C172 G1000 and three Tecnam P2006T, imported from Italy and built together in the US. This is just second hand information, so please don't quote me.
The program is experiencing something whats called, in my view, a revolution. I was, along many others, unfortunately caught in the middle of the turn around of the program. We had a new CFI, new aircraft, new simulator, new flight instructors, dean (I think there is a new one now anyway), a total restructure of the class syllabus and not to mention, Mount Royal becoming a University. This "turn around" takes a long process and lots of money. They cant afford to shut down the program (and it hasn't) because they need more money for this to take place. I'm not sure where all these people get this from, but the aviation program has been running like a steam train trying to get students finished. The program has not been shut down ever, nor will it any time soon.
Yes, there are ups and downs, just like the aviation industry itself, alongside a changing economy. MRU aviation, of what I experienced, took aviation training very seriously and to a very professional level. I am glad that I chose this route because the training, as well as class instruction, was taken to much greater depth that the average flying school.
Over time, I think MRU will become a very efficient flight school as people say it used to be, as long as they keep progressing in the right direction. Yes, the G1000 is an overkill, but more smaller airlines out there are starting to add a G1000 into their aircraft. I'm not sure why so many people overkill the subject that MRU is bad, because it really isn't. Besides the fact that the fleet obviously can't cope with the amount of students at this present time, hopefully over time, MRU will add more aircraft to their small fleet in order to catch up. I hope this was a bit informative to the people out there who don't know what they are talking about-thanks for reading guys!