okay..... Cornell to increase fees after fall in income

Colleges & Universities A-Z Cornell University
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<p>Cornell to increase fees after fall in income</p>

<p>FT.com</a> / Home UK / UK - Cornell to increase fees after fall in income</p>

<p>By David Turner in London
Published: November 5 2008 02:00 | Last updated: November 5 2008 02:00
Cornell University, one of eight Ivy League colleges, has introduced cost-cutting measures and plans to raise tuition fees in order to try to weather the downturn.</p>

<p>The university has been hit in three ways. New York state is expected to cut its grants, the value of investments in its $6bn (€4.6bn, £3.8bn) endowment has fallen, and donations are likely to decline.</p>

<p>A spokesman confirmed that Cornell would raise fees, which are at present $20,000-$36,000 a year. Asked by how much, he summed up the uncertainty of Cornell's pronouncements by telling the Financial Times: "I don't know if anybody knows that right now."</p>

<p>Cornell sought to put its cost-cutting in a positive light but hinted that worse might be to come.</p>

<p>For example, it said it would freeze "non-professorial hiring" from outside, partly "to preserve employment opportunities for our high-performing employees" and partly "to identify unoccupied positions that can be eliminated as the best way to minimise the need to lay off staff in the future". It also announced "a 90-day construction pause".</p>

<p>Cornell will implement "a rigorous 45-day university-wide review of operational effectiveness, financial policies and procedures", to "identify specific actions to contain costs, streamline operations and protect the institution from unintended financial exposure".</p>

<p>A worsening in US universities' finances could damage their positionat the top of global rankings.</p>

<p>British universities have been insulated by government funding.</p>

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<p>well…</p>

<p>disheartening news?..</p>

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<p>Cornell increases tuition each year…that’s nothing new. The question is…by how much will it increase this year?</p>

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<p>Every university increases its fee. For international students, Stanford states explicitly that they should “expect a rise of 10% in tuition PER YEAR” on its application form. Rise in tuition is nothing new.</p>

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<p>Hahaha the last sentence of the post cracks me up…it’s like they placed it for the sole purpose of contrasting with the article. You just know some Brit is sitting there totally not caring, and thinking “whew, it’s a relief education is cheap here…” lol</p>

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<p>I’m more worried about Cornell adding on the numerous extra fees that we have already.
We pay for gym, we pay to play pool, each visit to the clinic is 10 dollars copay etc. etc. </p>

<p>Because I’m a (relatively) low income student who is already covered by financial aid, these add-on fees are going to hurt a lot more than a tuition increase.</p>

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<p>Most of those fees can be covered with financial aid (obviously the games can’t be :-P)…and the current financial aid packages are a lot better than when I was a student. You should be concerned with Cornell’s ability to keep their new financial aid initiative going strong…although I think it will be…Pres. Skorton is committed to doing so.</p>

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<p>Ya, like dew said the increase will probably be largely covered by fin aid anyway. And they are even expanding their program during this downturn. I wouldn’t be worried unless ur rich enough to not get fin aid…in which case don’t worry ur rich lol (sry that was oversimplified and a joke…I know some ppl fall thru the cracks and don’t get fin aid even tho they should)</p>