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According to FAS Dean Michael D. Smith, FAS was in “tremendous growth mode over the past decade,” when SEAS was still in the process of saving.
“When you look at the times when the endowment was doing well, we were extremely prudent,” says Linda Fates, associate dean for the SEAS office of resource development. “Otherwise, today we would be in trouble.”
Nevertheless, the reserves will not provide an unlimited source of funds in the case that uncertainty about the global economy leads the markets to return to fall 2008 levels.
In the face of expected expansion, another potential constraint confronting SEAS is the limited amount of laboratory space—a problem Murray acknowledged at her March All-Hands Meeting, saying that space at the school was “severely constrained.”
Despite the noted space crunch, SEAS Executive Dean Fawwaz Habbal says that administrators hope to nearly double the proportion of SEAS classes that include a hands-on component—and thus require time in teaching labs.