PITY THE “POOR” COLLEGES !!!

Perhaps it is time to mount a MASSIVE fund-raising campaign for the nation’s colleges.

In the last month, I have received grave letters of concern from the president’s of two VERY prestigious institutions.

In a nutshell, both schools were extremely alarmed about the impact the nation’s deteriorating fiscal condition has had on their school’s endowment.

Both administrators alluded to 20%+ decreases in their billion dollar endowments; which will necessitate “significant reductions” in financial aid to student families.

It is interesting to note, that over the last five years (with investments growing exponentially) colleges DID NOT initiate “significant increases” in financial aid to families.

Both schools announced (lower than usual) 4% tuition increases-----------instead of the “standard” 7% to 9% tuition increases---------------which they had averaged for the last 17 years !!

When quizzed as to why they did not “hold-the-line” on tuition increases; they BOTH explained that 4% allowed them to “keep pace” with their competitor’s practices.

From my vantage point it appears as if this financial “challenge” for the nation’s colleges will simply translate into more college loans and debt for their students and families !!