Sunday, October 05, 2008

You're In High School And Think This Financial Mess Doesn't Apply To You?

Think again.

Amid a deepening financial crisis that has sapped college endowments, college and university officials are grappling with the growing fear that the Wall Street turmoil could cast a shadow over nearly all their operations...

"Everything is on the table in this context," said Dennis Nealon, a spokesman for Brandeis University. "Colleges and universities can't pretend this isn't going to have an effect on us"...

At the same time, public colleges and universities are bracing for imminent cuts to state government subsidies that could lead to higher costs for students.

"Depending on their severity, there could be fee increases for the second semester," said Robert Antonucci, president of Fitchburg State College.

2 comments:

rightwingprof said...

Yup. The local university has frozen funds because they kept them in, yes, you guessed it, wachovia.

Ellen K said...

Luckily, my oldest son graduates this May. We are glad to be out of it. But what's ironic is that he never really could get any financial aid other than loans, while people who were marginal students had grants, scholarships and such thrown at them. As my principal noted, if you make less than $40K, your kid can go to college essentially for free, but step over that line by one dollar and you are screwed. And the government doesn't really consider it a hardship if you have more than one kid in college. We had three this last year. Next year we will have one. I am not going to appreciate a program that takes taxes from me to subsidize others who don't pay their way simply because the brains in DC think of me as "rich".