US institutions face challenges in market downturn

November 10, 2008

Like their Canadian counterparts, US post-secondary institutions are trying to cope with the current market turmoil. Whether public or private, rich or poor, a number of American colleges are announcing layoffs, budget cuts, hiring freezes, and are deferring construction projects and planned capital campaigns. The economic crisis is extending to students, as some are considering living off-campus or giving up their meal plan. Keeping tuition low enough to maintain enrolment, but high enough to support operations is a trickier process than ever. Many schools are revising their student aid packages. New York Times