…loss of endowment income, reduced research funding and an increase in needy students has created what Hennessy called "perhaps the tightest financial outlook we have seen in decades.’" Stanford is not alone – across the nation, universities are planning major belt-tightening. For the University of California and California State University, the state’s deteriorating budget situation has forced immediate cuts to its 2008-2009 budget – and additional reductions are envisioned for next year.

Read full article [here].
by Lisa M. Krieger, The San Jose Mercury News.

Posted: November 1st, 2008, by: admin. Categories: . Awaiting Comments.