Word: percenting
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...endowment and to Dean Michael D. Smith’s announcement 10 days ago of the need for Faculty of Arts and Sciences “restructuring,” everyone has been looking for places to cut. And they have found them. Departments have slashed around 15 percent of costs, Allston development has been significantly delayed, and undergraduate Houses have had to tweak refurbishment plans. Furthermore, the university went ahead with a voluntary early retirement program and an across-the-board hiring and wage freeze...
...time when university endowments are plummeting by as much as 30 percent, Harvard and its peer institutions have reaffirmed their commitment to meet student financial need as a “top priority”—often at the expense of faculty hires and campus renovations—to stay ahead of the pack in attracting candidates...
...increased support for financial aid programs at the various universities will be funded partially by modest tuition hikes hovering around the 3 percent mark, as most administrators are hesitant to further burden families from across the socioeconomic spectrum who feel the recession’s pinch...
...percent increase in the financial aid budget translates to a total of $145 million to be awarded next year, roughly 70 percent of which will likely be drawn from the endowment...
Yale, which boasts a financial aid initiative for undergraduates similar to Harvard’s, will increase its financial aid spending by 5 percent next year...