College endowments fell sharply for a second year in a row, raising doubts of a recovery any time soon, according to a new survey. American colleges and universities’ endowment funds fell 18.7% on average in the 2009 fiscal year, which ended on June 30 of last year, causing many schools to institute budget cuts and hiring freezes, take on increasing levels of debt and dip deeper into the so-called rainy day endowment funds to cover basic operating expenses.

Read full article [here].
by Shelly Banjo, The Wall Street Journal.

Posted: January 28th, 2010, by: admin. Categories: . Awaiting Comments.