Making Progress in Challenging Fiscal Times
There is something uncomfortable about bringing the topic of money into a conversation about how to best serve our college and university students while preserving the values, integrity, and relevance of our higher education institutions. However, there is virtually nothing we do in the realm of education that does not have a real cost associated with it. Thus, the balance sheet does have a place at the table, especially in recent years as endowment growth has been suppressed by diminished giving and low interest rates, state support has been reduced, and tuition resistance or caps have emerged. Add to this picture the decrease in federal funding for research, and we have compromised all the main income streams upon which our colleges and universities have traditionally depended to advance their missions in serving students in the best way. The question is how do we garner, in challenging fiscal circumstances, the resources necessary to serve our students in a changing world that expects new skills of our graduates?
