June 24, 2008
When the bottom fell out, where were the disaster plans?
As the economy took a dive in the first half of this year, and states started slashing budgets, higher education leaders were often left scrambling. Unsure where to cut their budgets on short notice, university officials turned to predictable — though not always strategic — solutions:
Vacant positions went unfilled.
Tuition hikes were approved.
Enrollments were frozen.
The latest economic downturn, which has left a host of state universities grappling with major shortfalls, is part of an ongoing cycle of ups and downs that have a familiar feel in higher education. And yet, precious few institutions plan — at least publicly — for how to deal strategically with such budget deficits when they inevitably arrive.
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