Financial Crisis Has IHEs Preparing For The Worst

Amid a deepening financial crisis that has sapped college endowments, college and university officials are grappling with the growing fear that the Wall Street turmoil could cast a shadow over nearly all their operations. Administrators at small colleges and large universities across the state huddled in tense meetings this week to discuss worst-case contingency plans and appraise their financial status after the market meltdown. While colleges stopped short of adopting new policies as Boston University did Tuesday when it froze hiring and halted new construction projects, they are scrutinizing everything from budgets and building plans, to how they and their students borrow money. Read more at:
http://www.boston.com/news/local/articles/2008/10/03/financial_chaos_threatens_to_besiege_universities/