<p>
</p>
<p>Just to get some perspective here: the Pennsylvania Governor’s proposal is to slash state aid to higher education by 50%, which for Pitt would reduce the state’s contribution from about $160 million to $80 million, an $80 million reduction. Pitt does have a relatively large endowment, but at $2 billion it produces an annual payout (at a standard 5% rate) of about $100 million. But that $100 million is already being spent; no wiggle room there to make up for the $80 million cut in state aid. I think Pitt will have no choice but to raise tuition substantially. It’s logical to place most of that burden on in-state students who in the past have been heavily subsidized by legislative appropriations. But there will also be political pressure to raise OOS tuition rates a like amount, or even a like percentage. So it’s not a pretty situation.</p>
<p>That said, as between the two schools I guess I’d prefer Pitt, both for its physical cohesiveness and for its urban location in a city that appears to have gotten its act together. Just be prepared for seismic-level financial changes.</p>