with what others are already doing:Morton Schapiro, president of Williams College in Massachusetts, which has long had a commitment to accepting students without considering their financial situation, said he doubted that all colleges with such full need-blind policies would be able to hold to them.
“The major dial you turn for most financial crises is that you admit more students who can pay, as a way of increasing revenues,” Mr. Schapiro said. “With the tremendous decline in wealth, I think fewer people will hold on to needs blind.”
In October, Cornell University in Ithaca, N.Y., increased its fund-raising campaign goal for undergraduate scholarships to $350 million from $225 million, which has "helped reinvigorate giving" specifically for this priority, says Simeon Moss, press office director at Cornell. While overall giving is down, donations directed toward undergraduate aid have soared to $63.4 million in fiscal-year 2008, from $13.7 million in fiscal-year 2007, he says.There are good and bad ways colleges and universities can manage their budgets during tough times. Tying fundraising efforts to student financial aid seems to be one of the good ones. Kudos to Cornell for taking proactive action.
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I found another "good" example - from my undegrad alma mater, a small, private lib arts college - in my inbox earlier this week. They've initiated a couple of cost-saving measures, like reducing dorm and classroom temperatures by two degrees and even more over winter recess(expected to yield $250K, plus bonus points for being "green"), transforming the computer store into a procurement and repair center ($280K), and renting out college facilities ($300K). Savings will be used to provide a "bridge" of support for families suddenly in need of extra financial assistance as a result of the economic downturn. What I found most interesting was the overt management reference: the college president writes, "An interesting phenomenon occurs when leaner times force organizations to cut back. Inevitably managers at all levels discover that they can often do just as well with less; organizations become better managed and their resources better stewarded after a period of belt-tightening." Maybe other institutes of higher ed will take a lesson from these "leaner" times, continue to do better with less, and use the new-found excess to up ramp up aid to low-income families.
Just standing up for my alma mater: Your contrasting quotes seem to suggest that Williams is planning on abandoning needs-blind admissions, and that Williams' approach is an example of the "bad ways" that schools can manage their budgets.
I do not believe Williams has any plans to change its needs-blind admissions policies. From my understanding, Morty Schapiro was simply commenting on the financial higher ed landscape (which is appropriate, given that he is both a university president and an expert on higher ed finances and economics). It would seem more even-handed if you noted Williams' actual plans when it comes to needs-blind admissions.
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