How Colleges Can Prosper During the RecessionLeonard A. Schlesinger
For the past six months, we have witnessed an upheaval in the economics of higher education unlike anything we have ever seen. Endowment levels are 20% to 35% lower than a year ago. Colleges and universities that rely on endowments for large parts of their operating support have budgets that are unsustainable. Major layoffs, firings, hiring freezes, reductions in student services, and huge reductions in capital projects have become the norm.
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