Thursday, October 16, 2008

Tennessee colleges, students facing bleak futures

In a review of higher education systems in states already being affected by the economic downturn, The Wall Street reports that Tennessee's public colleges and universities face a very difficult future.

And with the governor citing a budget deficit for the current fiscal year of up to $600 million, a hatchet to the higher ed budget and a sharp hike in tuition costs will be the result.

Here is The WSJ reporting on Tennessee's situation: The Tennessee Board of Regents, which oversees the University of Memphis, five other universities and 13 community colleges, has been forced to cut $58 million since July.

Bob Adams, vice chancellor for business and finance, says the system, with 190,000 students, may have to increase tuition "fairly significantly" next year. Including tuition, room and board and other fees, students typically pay $12,500 annually.

The University of Memphis recently announced a voluntary employee buyout program. Mr. Adams says schools are also delaying equipment purchases, such as laboratory equipment, and library acquisitions, including books and subscriptions. He says he suspects that classes will get larger because of rising enrollments and shrinking staffs. "It may get to the point where we don't have the facilities to meet the demand," Mr. Adams says.


This situation is tragic for households struggling to send their children to college and a state needing as many new professionals as possible for a viable economic future.

To read more about the coming calamity to Tennessee and the nation's campuses, go to: http://online.wsj.com/article/SB122420679058043423.html

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