Word: budgetable
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...wealthy schools, and as colleges decide how much they can afford to give, many worry they won't have enough to attract a full freshman class. Because private undergraduate colleges draw an average of 60% of their operating costs from tuition revenue, a student shortfall could cause a painful budget crunch, forcing schools to cut programs, slash faculty salaries and potentially raise tuition for students already enrolled. With admissions letters in the mail, many colleges are as nervous as the high school seniors waiting for word. Nailing the target class size is always "like landing a 747 in your backyard...
Skidmore has boosted its financial-aid budget 8% this year by trimming travel, faculty raises, renovation plans and commencement festivities. While the cost of attending the college rose $2,000 this year, the average aid award increased $2,300. In addition to $7,000 worth of federal and state grants, work-study earnings and federal loans, the average financial-aid applicant will pocket $28,000 in Skidmore grants. Skidmore, like many of its peer schools, also allocates funding for superstars with financial need, a practice known as "preferential packaging." The most desirable students--the ones who blew...
...book a full flight? Glotzbach says the possibility is remote, but Michael Casey, Skidmore's vice president for advancement, estimates that because 80% of the school's funding comes from tuition, any single student's absence could punch a $25,000 to $30,000 hole in the operating budget. And it's possible that the sophomore, junior and senior classes could shrink as well. Shorb has already received about 60 new financial-assistance requests from currently enrolled students, five times as many as in a typical year...
...Harvard-affiliated Cambridge Health Alliance will receive $40 million in federal funding next month, more than halving its $70 million budget deficit and potentially staving off dire cutbacks at the regional hospital network...
Bailey said that while the Governor’s January budget included a $40 million dollar allotment to the Alliance, the hospital network had been uncertain until now about how much of that funding would materialize...