...Money is only one of the reasons to go to college, of course. But with college costs skyrocketing and the economy worsening, the question of whether higher education is a worthy financial investment is no longer a no-brainer...
...At a time when deep uncertainty permeates the economy, graduates across the country are entering the workplace with staggering liabilities. The average student debt has doubled since the mid-1990s. And that burden often has an effect on the most fundamental choices graduates are making about their lives - decisions about home, family and career...
The current fiscal year for most states started at the beginning of July, but colleges and universities are already bracing for budget cuts as state revenue from sales, corporate, and income taxes continue to nosedive in the struggling economy. In a report released late last week, the Center on Budget and Policy Priorities, a research organization in Washington, says that 21 states were expecting budget shortfalls totaling nearly $9-billion for the fiscal year that started July 1 - an amount the center expects to grow as the nation deals with the continuing effects of the Wall Street meltdown, the housing slump, high unemployment, and low consumer confidence... (paid subscription required)
Higher education has a bull's-eye on its back when state budgets are lean, leading to unpredictable tuition spikes and shaky long-term planning. But budget seasons have been less uncertain at the University System of Maryland, where leaders have taken a different approach: voluntarily paring back costs. Their efforts are paying off, in more ways than one. The cost-savings plan, dubbed the Effectiveness and Efficiency Initiative, begun in 2004, has saved $94-million so far at the 11-campus system, which includes two research institutes and two regional branches. More important, it has also bought the university a heap of good will in Annapolis, the state capital... (paid subscription required)
It's not unheard of, at faculty gatherings, to hear colleges' treatment of adjuncts compared to the way Wal-Mart treats its workers. On Monday, such a comparison was made at a most unlikely place: the annual meeting of the College and University Professional Association for Human Resources...