ERIC Number: ED058860
Record Type: RIE
Publication Date: 1971
Reference Count: 0
Institutional Response to Financial Stress: Stop-Gap Measures or Fundamental Change?
Southern Regional Education Board, Atlanta, GA.
Higher education was perhaps the nation's largest growth industry during the period 1955-1970. Budgets for all higher education institutions rose more than seven-fold, from an estimated $4 billion in 1955 to an estimated total of $28 billion in 1970-71. Current fund income rose more than five-fold to $19 billion, an average annual increase of 13.5% for the period 1955-56 to 1965-66. Federal monies granted to higher education institutions increased from $500 million in 1955 to $4.4 billion in 1968. College and university administrators tended to gamble that funds from outside sources would continue to come in; however, the private institutions are not experiencing financial difficulties based on an actual decrease of funding. This paper explains some of the current aspects of the financial crunch with regard to the manner in which it affects individual colleges and universities in the South. It also indicates some of the steps that colleges and universities are taking or must take in order to improve their short- and long-term financial condition, and underlines possible positive outcomes of financial adversity. (Author/HS)
Publication Type: N/A
Education Level: N/A
Authoring Institution: Southern Regional Education Board, Atlanta, GA.