Private colleges bolstered financial aid and decreased selectivity to help sustain enrollment in a downward economy, but a significant number still expect tuition and fee revenues to decline this year, according to a survey released today by Moody’s Investors Service.
Two and a half years after announcing the largest gift in school history, Florida Atlantic University (FAU) will have to settle for less than a third of the donation.
The fast-growing group of millionaire private college and university presidents hit a new record in recent years, and it's likely more college leaders will make seven-figure salaries once the slumping economy rebounds.
While generous compensation packages for college presidents have come under increasing public scrutiny, other university employees often earn far more.
Presidents of a number of colleges vowed in November to take a pay cut or otherwise give back part of their earnings as a way to help buffer their schools against the struggling economy.