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Higher Ed in the News

Princeton looks for ways to cut $50 million from budget

January 9, 2009

Princeton University President Shirley Tilghman announced Jan. 8, that the school will look for ways to cut costs by $50 million in the 2009-2010 academic year because its endowment is being crunched by reeling markets.

To save money, Tilghman said the school would hold down the number of visiting faculty, cut non-personnel administrative budgets by 5 percent, cap pay increases for tenured faculty and the highest-paid administrators at $2,000.

Other measures are also being studied, ranging from printing fewer documents to charging more rent for outside groups who use university facilities.

Read the full story from the Boston Globe.