A recent report from Education Sector shows that about half of America’s college undergraduates go into debt these days in order to work toward their degrees. In 1993 only 32 percent of college students took out loans to pay for their educations, so these latest figures, from 2008, based on the U.S. Education Department’s National […]
Read More
The talented education bloggers at The Quick and the Ed have turned their attention to a topic dear to the hearts of us at Minding the Campus (see my March 31 opinion piece for the Washington Examiner): the reluctance of colleges and universities to take serious steps to cut costs in the face of shrunken […]
Read More
By Harvey Silverglate With Kyle Smeallie Harvard University may be losing money like a hard-luck high-roller, but the Vegas tagline (what happens in Vegas stays in Vegas) certainly does not apply: what happens at Harvard reaches well beyond the Cambridge confines. For better or for worse, many schools follow in Harvard’s footsteps. What better place, […]
Read More
If you thought last fall’s staggering endowment drops were the end of collegiate financial troubles, you haven’t been paying attention. Another minefield awaited – application season. It wasn’t simply colleges that were feeling a pinch, so were their future customers. After decades of tuition increases that failed to dent application numbers, colleges were suddenly forced […]
Read More
“8 Tuition-Free Colleges” from Mental Floss
Read More
Newspapers are folding right and left—the Rocky Mountain News in February, the Seattle Post-Intelligencer in March, the Boston Globe any day now, it would seem—and, according to the American Journalism Review, some 15 percent of the newsroom jobs, about 5,000 of them, last year (with another 7,500 vanishing so far this year) at newspapers across […]
Read More
In a recent article that received a fair bit of buzz, The New York Times spun a story of the supposed new reality in the recession-plagued U.S.—Students from more well-off families being given admissions preference at increasingly cash-strapped universities. But the Times article misses the larger point. Lawrence University, Colby College and Brandeis (some of […]
Read More
Here’s a sign of colleges’ desperate need for tuition cash to make up for shrunken endowments and less generous donors in today’s economic downturn: many institutions are slinking away from their vaunted “need-blind” admissions policies that admits applicants deemed qualified regardless of their ability to pay and makes up any shortfalls with scholarships and other […]
Read More
Finally, it would seem, colleges are doing something realistic to cut costs in this era of tight budgets and shrunken endowments: they’re scaling back or declining to expand their Ph.D. programs. Inside Higher Education reported last week that a range of institutions, including Emory, Columbia, Brown, New York University, and the University of South Carolina […]
Read More
In his Prologue to the Canterbury Tales Geoffrey Chaucer distills the betrayal of trust by corrupt public servants into a memorable expression: “If gold rust, what shall iron do?” This is the metaphor that his honest parson lives by, and it reflects on the venal churchmen among the pilgrims who betray the ideals of the […]
Read More
Many people think the colleges and universities are overreacting to the sharp drop in their endowments. Lynne Munson, former deputy chairman of the National Endowment for the Humanities, is one of these critics. In a letter (subscription only) to the Chronicle of Higher Education, she argues that higher ed endowments haven’t lost much value if […]
Read More
Harvard University, trying to trim its operating budget in the face of a projected 30 percent decline in the value of its endowment stemming from the current financial meltdown, announced its intention to cut 13 of the 27 janitors who service its medical school and an unspecified number of custodial workers elsewhere at Harvard residential […]
Read More
This article is adapted from the American Council on Education’s Atwell Lecture, delivered on February 8th by Dr. Gee, president of The Ohio State University The transformative effect of higher education, to change individual lives and to remedy global problems of all kinds, is without question. And it is shared equally among us. Public or […]
Read More
The Boston Globe reports that Harvard alumni have written to President Faust asking that, given the recent drop in endowment value from $36.8 billion to $28.7 billion, the latest bonuses paid to the fund’s managers be returned. The five highest-paid executives earned between $3.4 and $6.9 million during the last fiscal year. Those aren’t especially […]
Read More
Despite all of the rhetoric from our elected officials about their interest in containing college costs, every American should know that the legislation Congress passed last year reauthorizing the Higher Education Act significantly increases the cost of running a college, and therefore the cost of attending one. By way of example, let’s look at the […]
Read More
One thing to be said for the $42.5 billion or so in supposed stimulus dollars that publicly funded institutions of higher learning are trying to squeeze out of the incoming Obama administration’s economic package is that the amount isn’t too much larger than Harvard’s $28 billion endowment. Oh, and it’s also not too much larger […]
Read More
Duke’s Endowment down 19%. Yale’s down 25%. More blows to the “Yale model” of investment. If you didn’t catch it, read more from Joe Malchow on the topic here.
Read More
After years of fat, our colleges and universities are now facing decisions imposed by the coming years of lean. Will the academy pull back from the spending binge of recent decades by cutting away administrative fat, or by chipping away at academic bone? Will it be administrations or faculties that get downsized? The answer will […]
Read More
Harvard’s Endowment has suffered a staggering eight billion dollar loss, or a loss of at least 22% in the last four months. That’s the worst endowment drop for Harvard in 40 years, and dwarfs most comparable recent plunges in University endowments. Read on. Given uniformly dolorous news in the financial sector, it’s encouraging to see […]
Read More
In the reporting on our present economic infelicity we learn, astonishingly, that among the most extravagantly foolish investors have been America’s oldest and (so we are given to believe) wisest institutions of higher learning, including Harvard, Princeton, and Dartmouth. A twenty-something taking his first dip in the stock market might be expected to display irrational […]
Read More
The week is full of bleak educational news. Take a look: A Forbes story, “The Coming College Bubble”, forsees a world of trouble for Higher Education’s economic fortunes: According to a September 2008 study by the National Association of Independent Colleges and Universities, of the 504 member institutions surveyed, one-third said the credit crunch had […]
Read More
Gordon Gee, president of Ohio State University since October 2007, holds the record for heading the most universities in America. Here’s Gee’s history at the helms of U.S. institutions of higher learning: West Virginia University (1981-1985), University of Colorado-Boulder (1985-1990), a first round at Ohio State (1990-1997), Brown University (1997-2000), Vanderbilt University (2000-2007), and now, […]
Read More
The public furor over textbook prices shows no sign of halting, as students part with ever-larger sums for books. Before petitioning congress, all should take a look at the burgeoning number of private options for used and cheaper textbooks. Charlotte Allen pointed out several here this summer. Additional options continue to spring up. – The […]
Read More
The New York Times ran a piece Monday on Berea college, which, judging from the article’s comment section and blog responses, appears to have hit a raw nerve. At a point when Congress is about to publish a list of the worst tuition-increase offenders, and yearly college price-tags are climbing nearer $50,000 a year, it’s […]
Read More
Harvard president Drew Faust spoke at the ROTC commissioning ceremony, a controversial act on a campus where hostility to all things military is entrenched orthodoxy. The question hanging in the air was: will she tarnish a celebratory moment by taking the opportunity to denounce “Don’t ask, don’t tell,” or perhaps irritate the anti-military crowd by […]
Read More
The Wall Street Journal reports on college savings plans. Take a look, save (more).
Read More
An op-ed “Aid, Discrimination, and Justice” in Monday’s Columbia Spectator speaks to an increasing conception of universities not as American institutions, but as world institutions, with a responsibility to a global audience, and, in this case, student body. Columbia just announced an overhaul of its financial aid policies, of considerable benefit to poor and middle […]
Read More
(This article originally appeared at Inside Higher Ed) Dartmouth College is now the latest institution to announce considerable changes to its tuition and financial aid structure, eliminating any charges for students from families making less than $75,000 a year. Dartmouth’s arrangement is not nearly so generous as Harvard’s or Yale’s, yet it’s markedly superior in […]
Read More
Now that the Senate finance committee has requested – the New York Times said “demanded” – that the nation’s wealthiest colleges and universities supply detailed information about their endowments and financial practices, it seems clear that college cost is emerging as a long-running, popular and bipartisan issue. The request/demand came in a stern but polite […]
Read More