Word: costes
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Dates: during 2000-2009
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...these steps, and the Obama Administration appears to be attacking the staggering cost of higher ed from the back end - that is, if we can't fix how much college costs, at least we can try to fix how you pay that cost back. "There's clearly a lot of work to do in bringing down the cost of college," says Edie Irons, spokesperson for the Project on Student Debt. "But even if you froze college tuition at every institution tomorrow, you'd still have this problem where people are borrowing incredible amounts of money to take important jobs that...
Through the latest staff reductions and other cost-cutting initiatives, HBS has trimmed roughly $40 million from its budget, according to HBS spokesman Brian C. Kenny. In their letter, Light and Crispi expressed hopes that no further layoffs would be necessary, but noted that new hiring would be closely monitored...
...late April interview, Light said that the School began to respond to the crisis in March 2008 by cutting expenses and postponing several capital projects. But in the recent letter, he and Crispi wrote that it was not enough. Other cost-cutting measures that staff had suggested to avoid layoffs, such as furloughs and pay reductions, would also be too little, they said...
...Because the Law School's share of endowment payout for fiscal years 2010 and 2011 may fall by as much as $19 million from this past year's payout, administrators have come to view layoffs as a "painful" but necessary cost-cutting measure taken only after an "exhaustive look at all other possibilities," Jackson wrote. Staff attrition and redeployment, along with the University's voluntary early retirement incentive program, already helped to achieve most of the necessary downsizing...
...even with these cost-cutting measures, the threat of layoffs had loomed since April, when Jackson said at a town hall meeting that further staff reductions would likely be needed to bring the School's costs in line with its new financial realities...