Not sure where you're getting your information from, SmartDevil.
It's indisputably true that the athletic department was horribly mismanaged (financially), and while the current AD management seems to be doing a better job financially, it certainly is having a hard time with its coaching picks. But the rest of the University isn't having particularly dire financial problems; the state has cut the University's budget over the last few years, but I don't believe its financials are any worse than most other public universities. Academically, its rankings have improved quite considerably over the last two decades.
As for College Park, yes, it's a hole. But believe it or not it's a lot less of a hole than it was a decade ago. I don't have the stats in front of me, but I don't believe crime is significantly worse than it was then, either; and in any case, it is not quite an urban campus, but is nearly so, and there isn't that much the University can do to patrol the streets of College Park.
Disclaimer: I spent ten years earning a PhD at Maryland from 1993 to 2003.