BC lost 25% of Endowment

Colleges & Universities A-Z Boston College
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<p>“In a letter released to the Boston College community today, University President Rev. William P. Leahy, S.J., reported a 25 percent decline [or about $400 mil]n the University endowment, as well as a tuition raise of 3 percent. He also reported a 7.34 percent increase in financial aid”</p>

<p>“Leahy’s previous letter on the University response to the financial crisis, which was released on Nov. 20 of last year, called for all University units to cut their budgets by 2 percent, a cut that Dunn said was made permanent. The University will also continue ongoing searches to fill 50 open faculty positions, which Dunn said is remarkable at a time when most other universities are looking at laying off staff.”</p>

<p>“Work will still go forward on the Institutional Master Plan (IMP), the letter said, after the plan receives final approval from the city of Boston. The Boston Redevelopment Authority gave approval for the plan on Jan. 29; the plan will be presented to the Boston Zoning Commission in a meeting on April 8. The final plan must then be signed by Boston Mayor Thomas Menino.”</p>

<p>[Endowment</a> plummets 25 percent - News](<a href=“http://media.www.bcheights.com/media/storage/paper144/news/2009/03/12/News/Endowment.Plummets.25.Percent-3669976-page3.shtml]Endowment”>http://media.www.bcheights.com/media/storage/paper144/news/2009/03/12/News/Endowment.Plummets.25.Percent-3669976-page3.shtml)</p>

<p>I hate to graduate from college into this economy. But I hate more being entering college at this time.</p>

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<p>25%? Wow. That’s a big chunk.</p>

<p>I agree though. I don’t think I’d be able to afford going to BC in this economy. I’d probably settle with a state school or CC for my general requirements.</p>

<p>Now, if I could only find a job…</p>

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<p>BC is one of the schools that I read meets “100% of your financial need,” but from what ive read their financial aid is pretty bad… does this mean its gona get even worse?</p>

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<p>I’d be willing to bet that there are more than a few posters here whose 401Ks have “plummeted” more than 25%.</p>

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<p>Seeing as the economy dropped 50%, losing 25% isn’t that bad.</p>

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<p>It clearly is unfortunate; however, our losses have not been as great as those of other universities. </p>

<p>To be honest, I do not know why the cost of tuition has increased if we’re going through a period of deflation. I do understand that there are contractual obligations to suppliers as well as professors, but I feel as if this situation does not warrant a rise in tuition. Although it is great that BC is increasing their financial aid policy for the next year to assist those students in need.</p>