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Economic News

 

Rapid and unprecedented changes in the economy have had a significant impact on higher education institutions, and Temple University is not an exception. This page summarizes Temple's efforts to proactively address evolving economic conditions and highlights news affecting colleges and universities in Pennsylvania and beyond.

Temple Updates

Temple holds to historically low 2.9 percent tuition increase
Temple's Board of Trustees Executive Committee decided to hold the 2009-2010 tuition increase to a historically low 2.9 percent, with a provision to revisit tuition later if the currently proposed $21 million state appropriation cut passes.
Thursday, July 16, 2009

Rendell Proposes $21 million cut in Temple support
Pennsylvania Gov. Ed Rendell announced his intent to cut the Commonwealth’s appropriation to the four state-related universities for the coming fiscal year by 12.8 percent, and declared that Temple, Penn State, Pitt, and Lincoln universities were being cut out of federal stimulus funding.
Tuesday, June 30, 2009

Board approves smallest tuition increase in 13 years
In a letter to the Temple community (.pdf), President Ann Weaver Hart announced a 2.9 percent tuition increase for the coming school year and a plan for substantially increasing the university’s financial aid budget over the next three years.
April 23, 2009

Putting cost-saving ideas into action
A committee comprising faculty and administration is reviewing more than 2,000 cost-saving ideas submitted by students, staff and faculty.
April 10, 2009

Update on Commonwealth Appropriation
President Ann Weaver Hart sent a letter to the university community (.pdf) on the state of Pennsylvania's appropriation to Temple.
March 5, 2009

A prescription for a stronger TU Health System
In a letter to employees, TempleHealth president and CEO Edmond F. Notebaert details the impact of the economic downturn and describes measures that will be necessary to build a clinically strong and financially successful health enterprise. The letter was also the topic of a Philadelphia Inquirer editorial .
February 25, 2009

Temple community submits cost-saving ideas
Temple students and employees have submitted more than 1,250 suggestions on ways to cuts costs and improve efficiencies during the current recession.
February 12, 2009

The FAQs about Temple's financial future
Answers to frequently asked questions about the impact of the declining economy on the university.
February 12, 2009

Temple moves to proactively address financial challenges
In a letter to the university community (.pdf), President Ann Weaver Hart outlined measures the university is pursuing to maintain its financial health in the midst of the economic downturn.
January 15, 2009

 
Higher Education News

Higher Ed Groups in Survival Mode
Inside Higher Ed article indicates that national associations representing colleges and universities are feeling the effects of the down economy as institutions around the country lay off employees, freeze or cut back travel and otherwise rein in their budgets.
July 29, 2009

More Cuts for Colleges Are Likely Even After States Pass Budgets
The Chronicle of Higher Education reports that lawmakers in some states already expect a new round of spending cuts, including to higher education, as tax revenues continue to fall. (Paid subcription may be required to view article.)
July 27, 2009

Cal State's tuition increases 20 percent
California State University tuition will increase 20 percent this fall as part of a plan to close the system's $584-million budget deficit resulting from a 20 percent cut in state support for higher education.
July 21, 2009

U. of Washington Cuts Hundreds of Jobs
Even with an infusion of federal stimulus money, public colleges are feeling the effects of state budget shortfalls. The Seattle Times has reported that the University of Washington will eliminate 600 to 800 positions, cutting some administrative units as much as 16 percent.
May 3, 2009

 
Stimulus is not a savior
"Inside Higher Ed" article warns to keep expectations of the recently enacted federal stimulus package in check.
March 27, 2009
 

UMass faculty settle contract with moratorium on salary increases
Faculty at the Boston and Amherst campuses of the University of Massachusetts have agreed to a three-year contract that freezes their wages for the current academic year.
February 25, 2009

 
Larger than expected budget cuts planned at Yale
In a Feb. 24 budget address, Yale President Richard C. Levin has announced larger than expected budget cuts for 2009-10. “The mounting evidence suggesting a prolonged recession has caused us to recognize that we need to take a more aggressive approach to budget reductions for the coming fiscal year,” Levin said.
February 24, 2009
 
California education systems feel new pain
Higher education leaders were worried that the final state budget agreement would be worse than it was. Even so, Inside Higher Ed reports that the agreement “inflicts significant pain on the three massive higher education systems: the University of California, California State University, and the California Community Colleges.”
February 20, 2009
 
Economic stimulus package details
An "Inside Higher Ed" article summarizes the approved federal economic stimulus package and details how it might affect higher education. (The Temple-News)
February 16, 2009
 
Johns Hopkins freezes hiring and salaries, cuts administrative pay
The Johns Hopkins University announced that it will freeze all hiring and most salary increases and will reduce top administrators’ pay by 5 percent.
February 13, 2009
 

 

 

 

 

“...Difficult economic times make Temple’s mission even more important and its task more urgent... Temple must be a source of ideas and leadership to build a stronger, more stable global economy.”


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