As part of its efforts to make college more affordable nationwide, the Lumina Foundation for Education announced today that it would give grants to 11 states to help them develop policies to make their higher-education systems operate more efficiently and to get more residents to earn college degrees...The 11 states that will receive the grants are Arizona, California, Colorado, Indiana, Maryland, Mississippi, Montana, Ohio, Tennessee, Texas, and Wisconsin...
One of the underlying premises of the Making Opportunity Affordable project — that colleges and universities will need to become more productive if the country is to meet the widely recognized goal of significantly increasing the number of Americans with a postsecondary credential — just got underscored by the economic downturn rippling across the states. As stock markets have tumbled and state revenues evaporated, the possibility that the higher education system would have to accomplish whatever gains it can without a significant infusion of new funds just became a likelihood if not a certainty...
Yale disclosed Tuesday that its endowment had fallen at least 13.4 percent in the four months since June as the decline in asset values during the financial crisis takes its toll on another university. Richard C. Levin, Yale’s president, said in a letter to the university’s faculty and staff that the endowment totaled about $17 billion as of Oct. 31, and he warned that Yale could be facing a $100 million shortfall in the 2009 school year...
The president of Williams College in Massachusetts, Morton Owen Schapiro, is leaving to become president of Northwestern University in Illinois. Northwestern announced that Mr. Schapiro, an expert in the economics of higher education, will become its 16th president beginning in September...