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...result of the financial crisis, Ellwood said, the school anticipates a sharp rise in domestic applications for next year, citing an 80 percent increase in applications for the Kennedy School’s joint degree program with the Harvard Business School as an early indication...
...also asked the Kennedy School’s departments to prepare two additional budgets for 2010—one with a 5 percent reduction in expenses and one with a 10 percent reduction—in addition to their planned budgets...
President Drew G. Faust recently announced that Harvard’s endowment had tumbled 22 percent in the first four months of the fiscal year, losing approximately $8 billion out of $36.9 billion. Earlier this week, Faculty of Arts and Sciences Dean Michael D. Smith asked professors to consider how they could cut 10 to 15 percent of their departmental budgets...
Harvard is facing unprecedented losses to its endowment right now, which has fallen off 22 percent since June and may see further capital deterioration. In the face of such sobering performance, cutbacks are not ideal but are certainly necessary. In this trying time, reductions must be evenly and fairly distributed across all of FAS. The policy of freezing salaries and curtailing new hires is appropriate because it does not necessitate any drastic shifts in policy or practice within a department or campus body. Although this policy affects many people, it does so to a manageable degree in order to distribute...
...Only 9 percent of tenure-track faculty in the humanities at Harvard are minorities—in contrast to percentages of up to 33 percent at peer institutions like MIT—according to the latest report on Faculty Development and Diversity...