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ERIC Number: EJ850369
Record Type: Journal
Publication Date: 2009
Pages: 2
Abstractor: ERIC
Reference Count: 0
ISSN: ISSN-1938-5978
Thriving through Recession: Higher Education in a down Economy
Goodman, Roger
New England Journal of Higher Education, v23 n5 p13-14 Spr 2009
The constant flow of alarming economic and business news, rapidly declining endowments and potential disruption to the student-loan industry have all beaten down optimism about higher education's financial and strategic outlook. Universities large and small have announced budget cuts, layoffs, salary freezes, capital spending slowdowns and other initiatives to batten down the hatches for the recession. Concern for the financial position of colleges and universities is well-founded, given the large degree of uncertainty about the future of the U.S. and global economy. Clearly, 2009 will be a year of re-evaluation of underlying assumptions for endowment management, tuition pricing strategies and risk management. Given the critical economic development role of higher education, sound management skills and governance oversight will be particularly critical to ensure that universities are drivers in helping the nation emerge from recession and are themselves well-positioned to survive and thrive. In this article, the author presents some principles and actions that are consistent with good financial management and stewardship of higher education institutions during a severe recession. These principles would also help prepare colleges and universities to be more nimble organizations in the future.
New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A