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Making Progress in Challenging Fiscal Times

Budgets and Finance

Making Progress in Challenging Fiscal Times

Since the recent recession, many of our colleges and universities have been quietly struggling to keep things afloat while they await better times. In reality, we were headed for the present state of affairs—lower state support and pushback on substantial tuition hikes—before the recession, an event that just created a dire situation sooner. To expect to return to the previous environment when we have finally shaken off the effects of the 2008 economic calamity is probably not realistic. In the meantime, while many institutions have been cutting back here and there to reduce costs or to set some dollars aside, others are boldly investing in programs that will position them well for the future needs of students who will be part of the revamped economy. This is not a time for hibernation but rather a time for calculated risk-taking.

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