<p>this is just to let everyone who's interested in applying to middlebury. the current economic crisis has affected middlebury like every other big college in the country, so lots of cost cutting measures have been taken/are being taken. for example, one of the four dining halls (and the newest) of the college will close next spring and become a venue for special events. a hiring freeze on staff is implemented. outdoor orientation programs are discontinued. some more technical stuff is included as well, but more importantly, financial aid: the work portion of the package, beginning with the class of 2013, will increase. and unfortunately: "for the coming year, the College will reduce the amount of financial aid set aside for incoming international students. The reduction in aid for the first-year class will likely result in a decrease in the number of international students in the entering class. Despite this expected decline, the overall number of international students in the student body will continue to exceed the Colleges goal of 10%. In addition, the projected amount of financial aid committed for international students next year ($8 million) will still be higher than the average amount of aid awarded over the past three years ($7.5 million/year)."</p>
<p>Honestly, I think Midd is just being more upfront than other schools. Tufts surely didn't put their Madoff woes on the front page of their website. To be fair, Midd certainly could have buried their cost cutting information. And I can find nothing for Amherst without digging and finally found some information in their weekly paper -- which stated the goal was to cut 20 million and they've already made huge changes in their food choices/options (which is what the article was really about). I don't know of any schools who havent mentioned a hiring freeze as part of their cost containment initiatives including Dartmouth who is cutting 40 million. And others are promoting an early retirement. And while it may not be the politically correct thing to do, the way to lessen the pain is to reduce certain parts of financial aid. I don't really have a problem with limited international aid simply because they already have 10% international population and it says nothing about limiting students, just the aid. And as the saying goes, you cant squeeze blood from a turnip or water from a rock. In times of plenty is was easier for schools to think widely and generously with their financial aid and plumb endowments, but to not put on the brakes in this economy and foreseeable market volatility would be fiduciary irresponsibility in my book.</p>
<p>I didn't apply to Middlebury, but I'm glad they're at least being honest about it, even if I'm not sure that this the whole extent of it.</p>
<p>I just find it hard to believe that there are colleges that are raising FA at this time or not looking for kids who don't need it. </p>
<p>Even with the big guns.</p>
<p>I think we will see more and more colleges outlining their next steps much like Middlebury has simply because most will have just completed their Board of Directors meetings. In line with this, Williams has just put up their plans on their website as well... many of the same measures, including canceling their williams in new york program.</p>
<p>What I think it going to be most tricky is how to compare what schools are today and how they plan to weather tomorrow. And if Midd is cutting X from the budget and say Williams is cutting Y, where was their spending (and their priorities in that spending) before the reductions. In other words, which one will change the least and/or who may have been wasteful or frugal previously?</p>
<p>I like that Middlebury is being upfront about their difficulties and I respect that. It only seems like that their financial woes are affecting International Students, but we'll see.</p>
<p>Actually, that their FA work study and EFC will be higher (think more burden either in work or family contribution for the student) directly affects any financial aid students. And even if that doesn't apply to our family, I have to admit there is a huge part of me that wants to have as much socioeconomic diversity as possible wherever he should attend school. I just would prefer there was not an overabundance of silver spoons surrounding him as that would so not be reflective of any kind of reality, Midd bubble or not.</p>
<p>Well I'm definitely glad to have heard about all of this directly from the President. It shows that they respect students enough to let us know about the gritty details even if they may not please us. And, while they may lose students (whether from here or abroad) because of the economic situation at least they were honest in the process. That's all you really can do at this point :S</p>
<p>My daughter is currently a freshman at Middlebury and is receiving FA that we are depending on in order to afford this school. I am encouraged by the timely efforts of the school leadership to try and stay ahead of the operating budget shortfalls but, as the same time, worry that they have not gauged the full extent that their endowment has/continues to be dimished.</p>
<p>The non-specific reference to adjusting their FA work study split may encounter a problem that has not been sufficiently perceived and asessed to date, that is that student job opportunities on campus and in town have been greatly diminshed. My daughter was expecting to earn about $1750 per year via the Federal Work Study program, but actually has not been able to be placed/employed despite months of searching. There are just too few jobs available (at least to freshman) as discretionary employment is cut back and the local (town) economy continues to slump. And so, the school's idea to reduce grants by shifting the burden to higher EFC and Work Study is likely unrealistic with regard to the Work Study portion.</p>
<p>TR,
I totally agree with you... there are no jobs available! When I was in school, i remember jobs on campus being very easy to find. My son is a sophomore at Midd and is yet to find a work-study job on campus - I've checked occasionally for him and there are only one or two listed on the college website - things like van driver or web technician. I don't understand why there aren't dining hall jobs, library help, anything! I know kids at other schools who get jobs like athletic trainer without being on work-study, so it seems strange. Maybe the college hires local residents and what used to be work-study jobs are now permanent positions? My son has the time and needs the money, but jobs on-campus jobs seem very scarce! I should say, he LOVES everything else about the school!</p>
<p>i definitely agree with TR. there are many places to cut budget from, and i support actions to put a hiring freeze and reduce costs of dining facilities, etc, but i am totally against reducing the financial aid available for international students/increasing the work portion of everyone. international students, for example, can only work on campus, and i couldn't find a job on campus until the second semester of my freshman year although i tried very hard. jobs are really scarce, and have been so this year. i'm sure the college could use a portion of their endowment to get through these tough times which probably will be gone by the end of this year, but oh well, i'm pretty sure they know what to do.</p>
<p>Interesting article on this topic in Inside Higher Ed: </p>
<p>A</a> Shift Back on Aid :: Inside Higher Ed :: Higher Education's Source for News, Views and Jobs </p>
<p>A snippet from the article:
[quote]
Via e-mail, Patrick Norton, vice president for administration and chief financial officer, said that the changes for domestic students will include increasing the minimum student contribution by $100 and increasing the work component of self-help packages by $50 — small sums at a college where total costs this year top $48,000. (Middlebury is trying to close a $20 million deficit over the next few years.)</p>
<p>But Norton said that there were important reasons to make such modest shifts. “These changes will have a small impact on individual students and their families but over time they will provide the college with some savings,” he said. “The general philosophy at Middlebury regarding the budget has been to consider all expenditures. We feel these measures, along with the others that are being implemented, will strengthen the college financially and help it to maintain an excellent academic program.”
[/quote]
</p>
<p>The article is very helpful.</p>
<p>I'm pretty impressed with how upfront they're being. I'm cautiously optimistic that it won't affect financial aid too terribly much - at least, I really hope not!</p>
<p>I think this article is spot on and thankfully, hold to my original belief a few days ago. Transparency is best, even when the truth isn't always what we hope to hear. I also like that the Middlebury commented on the article as well (in follow up comments). As a parent who is trying to not only figure out what their money will buy, we are also now charged with trying to figure out how much the product (the college) is going to shift once our children are there (if, of course, they get in :).</p>
<p>I'm in the same mind-frame as Modadunn. It stings to think that a family could be paying the same for less (orientation trips cut out). I don't think consolidation of dining halls is a big deal (students will still be fed), but when the cuts start to trim back student opportunities, what was the preferred college in October may not hold its place come April. Makes me wonder how early decision students feel about the changes. Might even ease the pain of rejection for some regular decision candidates. I appreciate the openness but recognize that being upfront is the only course that makes sense. Can you imagine the uproar if orientation trips were cancelled in July?</p>
<p>I don't know how Midd did those trips (as they probably offset their cost) and I get what your saying exactly, but I don't believe Orientation trips are included in your 50k. But as that article and the release by Midd says, cuts are in things like hiring freezes (which could limit course choice and class size), delaying capital projects (which changes the facilities), and the big one of what will the tuition hike be. All this talk about financial aid is a worthy discussion, but in looking at my own wallet I am wondering how all these schools, including Midd, are going to steward that money. We are clearly in the middle in that 50k is not a slam dunk and we don't benefit from any financial aid. It's all about comparing schools for us.</p>
<p>
[quote]
Can you imagine the uproar if orientation trips were cancelled in July?
[/quote]
</p>
<p>In the grand scheme of things, orientation trips aren't really all that big a deal. If someone chose to apply ED to Middlebury because of a 3-day camping trip on a nearby mountain, then things are terribly out of whack. Middlebury will still offer students an orientation experience, but next year it probably will focus on community service in the town of Middlebury and other activities on campus (main campus and Breadloaf Mountain campus). Middlebury isn't the only school that's making these sorts of changes, but it is one of the few that are being honest and open about them.'</p>
<p>Also--keep in mind that a number of these cost-cutting measures are being taken in an effort to avoid having to fire people. I'd much rather forego a camping trip than put someone out of work in this economy.</p>
<p>Given the pervasive nature of the economic downturn and its impact on endowments, the story from Middlebury will likely be retold in one form or another at many of the schools that are considered peer schools. My son applied to Middlebury, Dartmouth and Grinnell among others and all three schools are looking at ways of significantly reducing costs. He was admitted ED to Williams and the latest from that school is that all budget managers are being asked to come up with ways of cutting costs at levels of either 12 to 15% for next year and 6% the following. The amount of cost reduction and what it translates to remains to be seen, but I suspect some of the same items on Middlebury's list will show up.</p>
<p>By your argument Midwestern Dad... If you applied to Georgetown because you thought they were going to update all of their science departments during your time there, what happens now? They have taken that completely off the table. Amherst has done the same. If you are a humanities kind of guy, it won't truly matter. So, won't it matter to you what exactly the 18 - 21% reductions will be and how that will affect being a student at Williams?</p>
<p>It's not like anyone applies for a weekend orientation, but losing that does change the flavor slightly. It's not that lots of kids aren't still science majors, but not having the same sort of facilities as the school who just completed a major renovation might change interest levels. Writing centers, career centers, etc. etc. I think the point was being made that if you applied binding early decision and now the program of interest is not going to be fully funded anymore, that this might inherently change things for the person.</p>
<p>The point I am trying to make is that any school that relies on their endowment to any significant degree to fund continuing operations or to build new facilities will still be in a state of flux for the next several months, if not years. In my opinion the cuts being announced at any of these schools are only the beginning.</p>