Universities request federal economic stimulus money
December 17, 2008Universities request federal economic stimulus money
WASHINGTON – More than 40 higher-education leaders from across the country asked Congress today to commit 5 percent of any economic stimulus program to the nation’s colleges and universities.
The educators, led by Vartan Gregorian, president of the Carnegie Corporation of New York, an educational foundation, published an open letter in newspapers warning that state budget cuts have harmed the public educational enterprise that is at the heart of the nation’s long-term security.
The letter says that an investment of between $40 million and $45 million will help the country remain economically competitive.
Most of the money would go to public institutions, which educate 80 percent of all college students, although private schools could qualify.
Among those who signed the open letter are the leaders of state university systems in Wisconsin, Florida, New York and Texas. Others include University of California at Berkeley Chancellor Robert J. Birgeneau and the heads of several national higher-education associations.
** RIDICULOUS! **
SAMPLE: From the University of Michigan Financial Report 2008
“Today, the University of Michigan’s endowment is a collection of 6,500 separate funds with a total value of $7.6 billion at June 30, 2008. At June 30 2008, U-M’s Endowment was the eighth largest among public and private universities.”
