Word: tuition
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...bringing its total value down to $26 billion—an $11 billion drop. Faust reminded audience members that payout from the endowment will decline by 8 percent in dollar value for at least this year and the next. Harvard’s other two income streams—tuition and fundraising—also shrank, with gift receipts down 8 percent. Over the past year, massive budget cuts across the board resulted in slowed faculty hiring, 275 layoffs, early retirement incentives, as well as a slowdown in Allston construction. Capital spending is expected to decrease by roughly 50 percent...
...trouble. The state legislature approved a whopping 20 percent cut in funding for the 10 schools in the University of California system—shaving $637.1 million from a $3.23 billion budget, which now stands at $2.6 billion. The legislature has also proposed a 32 percent increase in student tuition by fall 2010. In response, students, faculty, and staff protested the cuts yesterday. Imagine choosing Berkeley or UCLA over Harvard or Yale because you thought the tuition was that much lower...
...Harvard's tuition has been upped just 3.5 percent (still above the near-zero inflation rate to compensate for higher demand for financial aid), financial aid funding has risen 18 percent, and President Faust and Dean Smith have reaffirmed that financial aid will not take a hit despite greater fiscal constraints...
...Cole Act provides $80,000 for each year of wrongful incarceration and adds free college tuition, plus financial and personal counseling. Unlike past lump-sum payments, the new compensation will be paid out in a mix of monthly payments, with an upfront lump sum and an annuity that can be passed on through a recipient's estate. The new law also sets up an investigative panel, the Tim Cole Advisory Panel on Wrongful Convictions. (Read about how the tide is shifting against the death penalty...
Most of the $36 million figure resulted from cost reductions in utilities, operations and maintenance, faculty expenses, and funds given to FAS units. Smith said that the school also raised $12 million in additional revenue culled from research grants, tuition revenue from the Harvard Extension School due to higher enrollment, and alumni donations...