Academic

New York Times on University Financial Troubles

By propertyprof

Well, these are tough times for us all, universities included, no doubt.  We've already spoken a little bit about the slow down in hiring at universities.  I think that the belt-tightening will include increased teaching loads and a higher student-faculty ratio.  It's going to lead to a slow down in hiring of tenure-track faculty and I'd suspect that even when universities are making tenure-track offers, they'll prefer entry-level candidates rather than laterals.  Now Tamar Lewin has a story, "Tough Times Strain Colleges Rich and Poor," in the New York Times.  In addition to hiring freezes, Lewin talks about the declining fortunes of student financial aid.  She reports:

Tough economic times have come to public and private universities alike, and rich or poor, they are figuring out how to respond. Many are announcing hiring freezes, postponing construction projects or putting off planned capital campaigns.

With endowment values and charitable gifts likely to decline, the process of setting next year?s tuition low enough to keep students coming, but high enough to support operations, is trickier than ever.

Dozens of college presidents, especially at wealthy institutions, have sent letters and e-mail to students and their families describing their financial situation and belt-tightening plans.

Alfred L. Brophy

Full post as published by The Faculty Lounge on November 08, 2008 (boomark / email).