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Keyword: educationfunding

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  • Video: Why California really, really needs Race to the Top funds (hilarious video!)

    Item: California may not get to participate in President Obama’s Race to the Top education grant system because the state bars school districts from using student testing data in teacher evaluations:
  • Larry Summers and The Financial Crisis at Harvard

    07/23/2009 4:12:33 AM PDT · by FromLori · 16 replies · 1,481+ views
    Economic Policy Journal ^ | 7/22/09 | Robert Wenzel
    At Harvard University, they have lowered thermostats during the winter months from 72 degrees to 68 degrees. Hot breakfasts are no longer served on weekdays at undergraduate residential houses. Instead of bacon, poached eggs, and waffles, students have to get by on cold ham, cottage cheese, cereal, and fruit. These are just some steps Harvard is taking to battle serious financial problems. Part of the blame belongs to President Obama's top economic adviser Larry Summers. In a story for Vanity Fair, Nina Munk details the crisis. Harvard College, the Graduate School of Arts and Sciences, and the School of Engineering...
  • Beck: Obama to outlaw private college loans

    07/22/2009 3:22:20 PM PDT · by pabianice · 22 replies · 1,121+ views
    Glen Beck Show | 7/22/09
    Another Obama goodie. Beck had a guest on who explained that Obama is having legislation created that will outlaw any government-insured college loans from private banks and other organizations. Government insurance on the loan will be restricted to education loans from Obama's people. The student, upon graduation, can have the loan forgiven if he/she works for the government for at least ten years. IOW, Obama is using his power to control who goes to college, what they study, and then makes them work for the government after graduation. Speechless.
  • Former CEO of Charter School Pleads Guilty in Fraud Case

    07/21/2009 3:34:14 PM PDT · by Larry381 · 1 replies · 372+ views
    Department of Justice ^ | July 20, 2009 | United States Attorney's Office Eastern District of Pennsylvania
    PHILADELPHIA, PA—Kevin O’Shea, 50, of Philadelphia, pleaded guilty today to mail fraud, theft from a federally funded program, and filing a false tax return, stemming from his role in defrauding the Philadelphia Academy Charter School (“PACS”), announced United States Attorney Michael L. Levy. O’Shea admitted to stealing between $400,000 and $1 million from PACS by: (1) using approximately $710,000 in PACS’ funds to purchase a building in the name of his purported non-profit business; (2) demanding kickbacks from PACS vendors; (3) submitting for reimbursement at least $40,000 in fraudulent invoices for personal meals, entertainment, home improvements, and gas and telephone...
  • Calif. Budget Talks Stall Over Education Funding

    07/16/2009 2:51:22 PM PDT · by BenLurkin · 2 replies · 303+ views
    ap cbs ^ | Jul 16, 2009 1:12 pm US/Pacific
    Foiled by a dispute over education funding, Gov. Arnold Schwarzenegger and legislative leaders remain at odds over how to close California's $26.3 billion budget shortfall. After hours of talks with the Republicans and the governor, Democrats said late Wednesday that talks were stalled over how to repay California schools $11 billion once the economy bounces back. Lawmakers intended to return to closed-door talks Thursday, although they had not set a time. "When times get better, we want to guarantee that education and kids get paid back the money that they are owed," said state Senate President Pro Tem Darrell Steinberg,...
  • Obama: Community colleges can help boost ailing economy (Econ 000)

    07/14/2009 3:45:35 PM PDT · by Oldeconomybuyer · 11 replies · 526+ views
    CNN ^ | July 14, 2009 | By Dan Lothian
    (CNN) -- Community colleges are only two-year institutions, but the Obama administration says they could play a key role in helping boost the ailing economy for years to come. "Instead of lining the pockets of special interests, it's time this money went toward the interest of higher education in America," he said
  • Obama Wants $12 Billion For 2-Year Colleges [Another Pay-Off]

    07/14/2009 9:31:37 AM PDT · by Steelfish · 10 replies · 374+ views
    SFChronicle ^ | July 14, 2009
    Obama Wants $12 Billion For 2-Year Colleges By DARLENE SUPERVILLE, Associated Press Writer Tuesday, July 14, 2009 President Barack Obama is proposing a multibillion-dollar investment in the nation's community colleges, a $12 billion effort to help the two-year institutions reach, teach and train more people for "the jobs of the future." Obama was outlining his four-part program in a speech Tuesday afternoon at Macomb Community College in Warren, Mich. Under the initiative, schools could qualify for "challenge grants" so they'll have money to try new programs, or expand training and counseling. Dropout rates would be addressed by designing programs to...
  • Obama to pump money into community colleges ($12 BILLION)

    07/14/2009 10:42:12 AM PDT · by pissant · 21 replies · 512+ views
    Fox ^ | 7/14/09 | staff
    This afternoon in Michigan, President Obama will announce a new $12 billion, ten-year initiative to improve the nation's community college success and graduation rate. That hefty price tag is sure to stoke some anger on the Hill. Deputy Undersecretary of Education Bob Shireman explains the financing this way, "This would be fiscal year [20]10 money and, assuming that congress does this in the reconciliation bill that will be considered over the next few months, it would be in the first six months of next calendar year." Shireman adds, "Our hope is to include it in a balanced piece of legislation...
  • Youth Hit Hard By Lack Of Jobs, School Grants [Obama Voters]

    07/12/2009 7:14:00 PM PDT · by Steelfish · 40 replies · 1,671+ views
    SFChronicle ^ | July 12th 2009
    Youth hit hard by lack of jobs, school grants Carolyn Jones, Chronicle Staff Writer Sunday, July 12, 2009 Jordan Atkinson had all the trappings of a typical Marin County childhood. He lived in a big house in Novato, played Pop Warner football, spent weekends with friends listening to hip-hop. Now, three years out of San Marin High School, Atkinson is homeless, a casualty of the recession. "I was spoiled. I had a lot of things easy," Atkinson said recently while drinking a smoothie at a Novato cafe, taking a break from job applications and college forms. "Now, unless someone physically...
  • California Delays $4 Bln Education System Payment

    07/10/2009 2:06:16 PM PDT · by Kartographer · 2 replies · 399+ views
    FOX Business News ^ | 7/10/09 | Stacey Delo
    California delayed a $4 billion payment to its Department of Education system on Friday as the state continues to struggle with a budget shortfall of more than $25 billion. The payment, known as the Principal Apportionment, is the largest annual payment of state funds to California's public education system. The money goes to schools to pay for a wide range of things including salaries. The payment was scheduled for today, which is the last payment for the 2008-09 fiscal year, but will instead be issued on July 30, State Superintendent of Public Instruction Jack O'Connell and State Controller John Chiang...
  • Greensboro College Struggling to Pay Bills

    06/29/2009 8:26:30 AM PDT · by HIDEK6 · 19 replies · 847+ views
    FOX 8 ^ | June 29, 2009 | AP
    A small, private college in North Carolina is asking creditors to be patient as it tries to raise money to pay nearly $1 million in past-due bills. Greensboro College, with 1,300 students,already has cut salaries 20 percent and a week ago was told to pay an $8,000 electric bill or lose power, The News & Record of Greensboro reported Sunday. Next, a sheriff's deputy brought a summons to small claims court to the college telling officials to appear because of an overdue office supply bill of $1,245. The 161-year-old liberal arts college also owed $136,889 for cafeteria service, $13,388 for...
  • With More Money ($22K/student), (New York) City Schools Added Jobs

    07/01/2009 7:22:38 AM PDT · by reaganaut1 · 10 replies · 459+ views
    New York Times ^ | June 30, 2009 | Jennifer Medina and Robert Gebeloff
    ... [Bloomberg has] overseen a large expansion in annual school spending, to $22 billion from $13 billion, with the additional money pumped in from Mr. Bloomberg’s budget and from the state. And that has allowed them to reshape the system to reflect the central elements of the mayor’s philosophy: smaller schools, relentless assessments of progress, and higher salaries for administrators to attract top talent. A New York Times analysis of seven years of education spending has found a number of changes in how dollars are allocated. There are now 1,075 more principals and assistant principals, even as overall student enrollment...
  • For modest earners, relief repaying student loans

    06/28/2009 5:06:49 PM PDT · by BenLurkin · 21 replies · 1,238+ views
    AP ^ | Sunday June 28, 2009, 7:27 pm EDT | Candice Choi,
    Repaying a student loan could soon be a little less painful. Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. Those choosing to work in public service could have their loans forgiven after just 10 years. Eligibility for income-based repayment (IBR) is determined by a person's income and loan size. A calculator at http://www.ibrinfo.org can help borrowers determine their eligibility for the plan, which becomes available Wednesday. "It's a way to borrow for college without...
  • Harvard cuts 275 jobs, cites drop in endowment (BIG COLLEGE cartel Update)

    06/24/2009 2:23:46 PM PDT · by MuttTheHoople · 17 replies · 610+ views
    al-Reuters ^ | Tue Jun 23, 2009 | Erin Kutz
    BOSTON (Reuters) - Harvard University announced 275 job cuts on Tuesday, the latest cost-cutting measure at the world's richest university after the financial crisis triggered big losses in its multibillion-dollar endowment. The Ivy League school took the action to meet budget constraints caused by an estimated 30 percent fall in its endowment for its 2009 fiscal year, ending June 30.
  • Harvard to lay off 275

    06/23/2009 7:43:16 AM PDT · by GQuagmire · 24 replies · 965+ views
    boston.com ^ | 6/23/09 | Tracy Jan
    Harvard University announced this morning that it plans to lay off 275 staff members as the college grapples with budget pressures caused by a precipitous endowment decline.
  • Perdue pushes for higher taxes to help education

    06/22/2009 7:33:01 AM PDT · by NCjim · 36 replies · 652+ views
    WRAL ^ | June 22, 2009
    RALEIGH, N.C. — Gov. Bev Perdue will hold "Save Education" rallies in Wilmington and Greenville Monday to press lawmakers to find additional revenue for education as they struggle to fill a projected $4.6 budget gap. "I've been so troubled by the proposed cuts to public education," Perdue said at a rally in Raleigh last Wednesday. "We cannot increase class size. We cannot lay off teachers. We will not sacrifice North Carolina's economic future." The rally at Minnie Evans Art Center in Wilmington was sponsored by the North Carolina Association of Educators. The governor has asked lawmakers negotiating the state's two-year...
  • Budget crisis forces deep cuts at Calif. schools

    06/21/2009 8:18:07 PM PDT · by Kartographer · 14 replies · 1,080+ views
    AP/MyWay ^ | 6/21/09 | TERENCE CHEA
    The budget cuts will be especially painful for struggling schools such as Richmond High School, where more than half of its 1,700 students are English learners and three-quarters are considered poor. The East Bay area school has failed to meet academic standards set by the federal No Child Left Behind Act for more than four years.
  • Democrats want California schools to get billions that voters rejected

    06/21/2009 11:22:27 AM PDT · by blueplum · 29 replies · 1,403+ views
    Sacramento Bee ^ | 21 Jun 09 | Jim Sanders
    California voters said no, but Democratic lawmakers are pushing to do it anyhow. The issue involves billions of dollars and a ballot measure so important to schools that the California Teachers Association spent more than $7 million in a failed attempt to pass Proposition 1B. One month after the initiative died, Democrats are proposing to pay schools the same $7.9 billion that was the heart of the measure and to begin payments the same year, 2011-2012. snip- The dispute over $7.9 billion stems from complex provisions of Proposition 98, approved by voters more than two decades ago to ensure a...
  • UC Santa Cruz students launch hunger strike over budget cuts

    05/27/2009 10:36:57 PM PDT · by artichokegrower · 27 replies · 855+ views
    Santa Cruz Sentinel | 5/27/09 | J.M. BROWN
    SANTA CRUZ -- More than 100 students and staff from UC Santa Cruz gathered at the foot of campus Tuesday to launch a hunger strike aimed at urging administrators to reverse course on budget cuts that opponents say disproportionately affect students of color.
  • ‘No Child Left Inside Act' Would Spend $500M Teaching 'Environmental Literacy'

    05/17/2009 4:24:04 PM PDT · by jmcenanly · 8 replies · 394+ views
    CNS News.com ^ | Friday, May 15, 2009 | Penny Starr, Senior Staff Writer
    Surrounded by elementary students from the Green School in Baltimore and charming critters – including an armadillo, cheetah and an Asian Toddy Cat – Democrats declared that the introduction of the “No Child Left Inside Act of 2009” was “historic” legislation that would connect children with nature. Some critics, however, said it is a way to spread environmental propaganda in the public schools.
  • VID: Biden: Obama Will Send You To College "If You Don't Have The Money"

    05/13/2009 11:17:17 AM PDT · by politicalhub · 53 replies · 1,956+ views
    Real Clear Politics ^ | 05/13/2009 | Real Clear Politics
    Joe Biden addresses students at Bellevue Elementary School in New York on May 10th: BIDEN: How many of you kids want to go to college? Well, guess what? Barack Obama and Joe Biden are going to make sure that every single one you who qualify are going to get to go to college even if you don't have the money in your family to go. We're going to make sure you get there.
  • Obama's (College) Loan Plan - Scary Stuff

    05/07/2009 5:34:33 AM PDT · by reaganaut1 · 49 replies · 1,861+ views
    Minding the Campus ^ | May 6, 2009 | Richard Vedder
    Like Caesar's Gaul, President Obama's plan for higher education is divided into three parts: 1) Every American should have postsecondary educational training, and within a few years we should again lead the world in the proportion of young graduates with bachelor's degrees; 2) Federal financial assistance to pay for college should become an entitlement like Social Security or Medicare, available to all in need; 3) The private provision of loans to students should end and the Federal Government should become the provider of student loans. The American higher education establishment has mostly endorsed this sweeping proposal. As is so often...
  • College-loan arithmetic

    04/26/2009 7:19:45 PM PDT · by paltz · 13 replies · 1,034+ views
    Washington Times ^ | 4/27/09 | Wash. Times Editorial
    President Obama is engineering a federal takeover of the college-loan industry. This new entitlement will cost taxpayers billions and never go away. Mr. Obama's plan to fully nationalize an already government-dependent sector adds another expensive burden to the already overwhelmed federal budget. It is also likely to result in a loss of tens of thousands of jobs, limit loan options for students and substantially increase the deficit. It's up to Congress to resist this public-sector capture of private-sector profit and instead embrace less costly reforms.
  • Cornell University lays off employees because of fundraising problems (hah hah)

    04/22/2009 10:06:07 AM PDT · by Behind Liberal Lines · 20 replies · 789+ views
    THE ITHACAN Park 269, Ithaca College, Ithaca, NY 14850 ^ | April 21st, 2009 | By David Durrett Senior Writer
    As Cornell University faces greater need for donations in the current recession, it also faces having to get more funds with less money as a result of the economic crisis. In order to better focus its fundraising efforts to meet its needs and in response to the university cutting its budget by 5 percent, Cornell’s Department of Alumni Affairs and Development recently laid off 41 employees, around 10 percent of the department’s workforce. Richard Banks, associate vice president for alumni affairs and development at Cornell, said the positions were cut based on which positions were least crucial. He said Cornell...
  • Harvard: the Inside Story of Its Finance Meltdown

    04/13/2009 2:15:05 PM PDT · by RonF · 20 replies · 1,232+ views
    Forbes Magazine ^ | 3/16/2009 | Bernard Condon, Nathan Vardi
    The superstars at Harvard defied markets for years-- until now. Here's the inside story of how they finally tripped up.Stocks were tumbling last fall as the new school year began, but at Harvard University it was as if the boom had never ended. Workers were digging across the river from Harvard's Cambridge, Mass. home, the start of a grand expansion that was to eventually almost double the size of the university. Budgets were plump, and students from middle-class families were getting big tuition breaks under an ambitious new financial aid program. The lavish spending was made possible by the earnings...
  • Ex-ROTC Recruit Forced to Pay Back Tuition [gotta love government bureaucracy]

    03/25/2009 7:07:20 PM PDT · by rabscuttle385 · 98 replies · 4,071+ views
    COLLEGE PARK, Md. - If it seems like a nightmare now, it started with a dream come true. Anna Viviano got into one of the best schools in the country, and as an ROTC recruit, she didn't have to pay a penny. "I talked to a couple recruiters and they were just like you can go to Vanderbilt for free," she recalled. And for two and a-half years, Viviano thrived -- second in her ROTC class and a near-perfect GPA. "I thought everything was going swimmingly -- was right on track to do what I wanted," she said. Then came...
  • Flood of U.S. Aid Doesn't Always Match Schools' Needs[ Stimulus Tax $$s in Toilet Flush]

    03/22/2009 5:46:27 PM PDT · by Steelfish · 2 replies · 453+ views
    IHT.com ^ | March 22, 2009
    Flood of U.S. aid doesn't always match schools' needs By Sam Dillon Published: March 22, 2009 RANDOLPH, Utah: Dale Lamborn, the superintendent of a somewhat threadbare rural school district, feels the pain of Utah's economic crisis every day as he tinkers with his shrinking budget, struggling to avoid laying off teachers or cutting classes. Just across the border in Wyoming, a state awash in oil and gas money, James Bailey runs a wealthier district. It has a new elementary school and gives every child an Apple laptop. But under the Obama administration's education stimulus package, Mr. Lamborn, who needs every...
  • Higher ed officials call stimulus waiver shortsighted

    03/20/2009 10:02:44 PM PDT · by BAW · 1 replies · 302+ views
    Las Vegas Sun ^ | March 20, 2009 | Charlotte Hsu, David McGrath Schwartz
    A push to obtain federal stimulus dollars for Nevada without strings attached could ultimately hurt the state college system, higher education officials say. Gov. Jim Gibbons this week asked the Obama administration to waive a requirement that the state put up more of its money to get stimulus funding for education. Assembly Democrats and Nevada’s three U.S. House representatives supported the request. But higher education officials, including Chancellor Jim Rogers, want that federal requirement to remain. If it is removed, they contend, the state could underfund the college system, creating a problem that will remain long after the federal money...
  • Washington Times Op-ed—Obama’s Zero to Five Plan Doesn’t Add Up

    03/17/2009 8:03:20 PM PDT · by Gordon Greene · 24 replies · 983+ views
    HSLDA.ORG ^ | March 17, 2009 | by J. Michael Smith
    To no one’s surprise, President Obama plans to ask Congress to spend billions of dollars on public education. As he stated in his presidential agenda on education, the country cannot afford four more years of neglect and indifference. This neglect and indifference, according to the president, occurred despite the fact that in the last four years, the federal government and the states have spent more money on public education than at any other time in the history of our nation. What is surprising about Mr. Obama’s education initiative is his priority on early childhood education. His “Zero to Five Plan”...
  • Aid Critical to (New Jersey) Public Preschool Plan

    02/28/2009 7:00:40 PM PST · by reaganaut1 · 7 replies · 435+ views
    New York Times ^ | February 27, 2009 | John Mooney
    This Morris County community [Rockaway Borough] of 6,000 residents and two schools has been among a growing number of suburban districts in New Jersey expanding into public preschool, seeing the benefits of starting early to teach children learning and social skills. Now, more programs may be on the horizon, under an ambitious — some say overly ambitious — plan approved by Gov. Jon S. Corzine and the State Legislature in last year’s new school funding formula. Modeled after court-required preschools in the state’s urban districts, the far-reaching law calls on virtually every district to start providing all-day programs for their...
  • Direct-Lending Program for Student Loans Proposed; Sallie Mae Shares Drop

    02/26/2009 9:21:37 AM PST · by cowtowney · 54 replies · 3,468+ views
    Wall Street Journal ^ | 2/26/09 | WSJ
    Renewing a battle waged during the Clinton administration, President Barack Obama proposed to eliminate private lenders from the student-loan market and have the federal government make all such loans directly. In his spending blueprint for fiscal 2010, Mr. Obama said the shift to the Department of Education's so-called direct-lending program would save more than $4 billion a year in subsidies paid to private lenders and eliminate uncertainty for students "because of turmoil in the financial markets." Direct loans only accounted for about 20% of the $68.2 billion in new federal loans during for the 2007-2008 school year, but interest in...
  • Harvard: the Inside Story of Its Finance Meltdown

    02/26/2009 5:20:38 PM PST · by bruinbirdman · 11 replies · 988+ views
    Forbes ^ | 2/25/2009 | Bernard Condon and Nathan Vardi
    The superstars at Harvard defied markets for years-- until now. Here's the inside story of how they finally tripped up. Stocks were tumbling last fall as the new school year began, but at Harvard University it was as if the boom had never ended. Workers were digging across the river from Harvard's Cambridge, Mass. home, the start of a grand expansion that was to eventually almost double the size of the university. Budgets were plump, and students from middle-class families were getting big tuition breaks under an ambitious new financial aid program. The lavish spending was made possible by the...
  • Never Enough

    02/24/2009 5:24:19 PM PST · by Kaslin · 3 replies · 486+ views
    IBD Editorials ^ | February 24, 2009
    Government Spending: Did anyone really think $787 billion would be enough to quench the Democratic Congress' thirst for play money from the taxpayers? Now they want $410 billion more.In addition to solar water heaters for rural Puerto Rico and the Raul Alvarez Golf Course in Austin, Texas, Obama administration sources say the U.S. is also planning to relieve taxpayers of $900 million for Gaza, much of which can be expected to land in the pockets of the terrorist group Hamas, which runs the region. To a family being foreclosed on, or a businesswoman forced by tough times to close up...
  • Boehner Democrats Secret $410 Billion Spending Bill to Kill D.C. School Choice Program

    02/24/2009 5:56:57 AM PST · by cc2k · 25 replies · 2,121+ views
    Boehner Condemns Provision Tucked in Democrats’ Secret $410 Billion Spending Bill to Kill D.C. School Choice Program Language Designed to Eliminate Program Was Kept Secret by Democratic Congressional Leaders for Weeks, Never Passed by Committee Washington, Feb 23House Republican Leader John Boehner (R-OH) today condemned a provision tucked into Congressional Democrats’ $410 billion “omnibus” spending bill that would phase out the District of Columbia’s groundbreaking school choice program, which has provided educational opportunities for thousands of inner-city children since it was established with bipartisan support in 2004. Boehner issued the following statement: “The D.C. school choice program has provided hope...
  • Endowment Director Is on Harvard’s Hot Seat (Cash crunch, margin calls, portfolio meltdown..)

    02/21/2009 5:56:11 AM PST · by jimbo123 · 29 replies · 915+ views
    NY Times ^ | 2/21/09 | GERALDINE FABRIKANT
    Harvard may be the nation’s wealthiest university, but it is short on cash. The school relies on its endowment to generate a third of the money for its operations, and the endowment is on the verge of posting its biggest loss in 40 years. With much of its money tied up for the long term, it is scrambling to meet some obligations. Harvard has frozen salaries for faculty and nonunion staff members, and offered early retirement to 1,600 employees. The divinity school has warned it may not be able to cover tuition for all its students with need, the school...
  • Should Private Colleges That Raise Billions Receive Public Funds?

    02/20/2009 1:53:28 PM PST · by Maelstorm · 11 replies · 385+ views
    http://news.google.com ^ | April 3, 2008 | Erin Strout
    Should Private Colleges That Raise Billions Receive Public Funds? As state lawmakers crunch budget numbers in New York, some leaders of the State University System are wondering why private institutions with the ability to raise money on their own are still receiving public funds, according to The Buffalo News. Columbia University has received $32-million in state funds, and New York University has collected $50-million, the newspaper reports. Meanwhile, Columbia is in the middle of a $4-billion fund-raising campaign and NYU is raising $2.5-billion in private donations. “At a time when we’re facing budget cuts, is it appropriate?” asked Marsha S....
  • Dems thank teachers unions with 'stimulus' money

    02/18/2009 10:10:29 AM PST · by Jim Robinson · 8 replies · 923+ views
    OneNewsNow ^ | 2/18/2009 | Pete Chagnon
    The managing editor of Budget & Tax News says no money for education should have been included in the recently signed economic "stimulus" bill. In a recent press conference, Education Secretary Arne Duncan warned that if the economic stimulus bill did not pass, up to 600,000 education workers could lose their jobs as states face enormous budget shortfalls. But Steve Stanek of The Heartland Institute argues that the bill should not have included the allotted $87 billion for education. Stanek argues that the stimulus basically amounts to a payoff for teachers and teachers unions who supported Obama. "The teachers unions...
  • Phillips Exeter Academy’s Endowment Falls 22%

    02/10/2009 8:04:44 PM PST · by TigerLikesRooster · 12 replies · 537+ views
    Dealbook NYT ^ | 02/10/09 | Geraldine Fabrikant
    February 10, 2009, 1:06 pm Phillips Exeter Academy’s Endowment Falls 22% From Geraldine Fabrikant, a DealBook colleague: Phillips Exeter Academy, one of the nation’s wealthiest prep schools, told the Exeter community this week that its endowment — which held more than $1 billion at the end of 2007 — lost 21.8 percent in calendar 2008 and that it was instituting a series of budget adjustments. While the loss is less than the 37 percent drop in the Standard & Poor’s 500-stock index last year, much less the broader ravages within the financial sector, it is still a setback for the...
  • Catholic schools set to close may get second lease on life as charter schools, Mayor says

    02/07/2009 9:46:19 PM PST · by Coleus · 7 replies · 610+ views
    ny daily news ^ | 02.07.09 | Kathleen Lucadamo
      'The mayor is like Noah, he is throwing out a life preserver and I'm going to grab it,' Bishop Nicholas DiMarzio of the Brooklyn Diocese said at City Hall Saturday. In attempt to keep cash-starved Catholic schools in Brooklyn and Queens from closing, the city may convert them into charter schools, Mayor Bloomberg announced Saturday. "We are in a flood," Bishop Nicholas DiMarzio of the Brooklyn Diocese said at a City Hall press conference. "The mayor is like Noah, he is throwing out a life preserver and I'm going to grab it." The diocese has identified four schools in...
  • Conservatives Wonder How $140 Billion in New School Spending Will Stimulate Jobs

    02/03/2009 4:25:08 AM PST · by Man50D · 22 replies · 545+ views
    CNSNews.com ^ | February 03, 2009 | Ryan Byrnes
    The proposed $140 billion in education funds included in the $819-billion stimulus bill that passed in the House last week might do little to stimulate the economy in the short-term and some are doubtful that it will have any significant long-term value either. Conservatives and tax-limitation groups are raising concerns over whether the federal government should be reaching so deeply into what is typically regarded as an area left to state and local authority. “This would be the most direct intrusion into fiscal policy making in education ever,” said Pete Sepp, vice president for communications at the National Taxpayers Union....
  • The Recession Hits College Campuses (It could be a “turning point” in how much it costs )

    02/01/2009 1:13:24 PM PST · by SeekAndFind · 26 replies · 1,652+ views
    US News ^ | Jan 31,2009 | Kim Clark
    Ivy-covered walls, Ph.D. economists, and growing demand for education seem to have, so far, offered colleges and universities at least a little protection from the recession and market meltdowns, according to several new analyses of colleges' financial health. University endowments, those big pools of "rainy day funds" that were designed to be so well diversified that they'd protect colleges during bad years, have fallen only about 25 percent in the past 18 months or so. While that has been painful for the colleges, it could have been worse. The U.S. stock market fell by more than 40 percent in the...
  • Brandeis on the Brink (School on verge of collapse due to Madoff)

    01/30/2009 8:10:16 AM PST · by jalisco555 · 72 replies · 2,091+ views
    The Daily Beast ^ | 1/30/09 | Judith H. Dobrzynski
    In a Daily Beast exclusive, a top Brandeis official opens up about the university’s financial collapse—including a potential $79 million deficit. The stark choice: Fire more than half of the faculty or sell the Rose art collection. Brandeis University, which claims Irving Howe, Thomas Friedman, Christie Hefner and Walt Mossberg among its alums—and trustees such as Michael Steinhardt, Vartan Gregorian, and John Rosenwald—has incurred the wrath of the art world for deciding to shut down its Rose Art Museum and sell off its famed collection, which was valued at $350 million in 2007. Other museums have sold off works before...
  • Stimulus for 'bait and switch'

    01/29/2009 5:07:18 AM PST · by walford · 13 replies · 521+ views
    The Washington Times ^ | Jan. 29, 2009 | Gary Emerling
    D.C. officials say any federal stimulus funds provided for schools and bridges in the District will enable them to drop their own funding plans for such projects and divert the money to help plug other gaps in their 2010 budget. The officials argued at a meeting of the Federation of Citizens Associations of the District of Columbia on Tuesday evening that such action would not undermine the purpose of the stimulus package, which has been designed to move money quickly into projects where it will produce the most jobs. But some economists see the plan as an example of a...
  • Stimulus Plan Would Provide Flood of Aid to Education

    01/27/2009 7:39:19 PM PST · by Libertarian444 · 18 replies · 510+ views
    New York Times ^ | 27 JAN 2009 | Sam Dillon
    WASHINGTON — The economic stimulus plan that Congress has scheduled for a vote on Wednesday would shower the nation’s school districts, child care centers and university campuses with $150 billion in new federal spending, a vast two-year investment that would more than double the Department of Education’s current budget. The proposed emergency expenditures on nearly every realm of education, including school renovation, special education, Head Start and grants to needy college students, would amount to the largest increase in federal aid since Washington began to spend significantly on education after World War II. Critics and supporters alike said that by...
  • Brandeis to sell school's art collection

    01/26/2009 4:58:14 PM PST · by Perdogg · 34 replies · 1,052+ views
    Boston.com ^ | 01.26.09
    A financial crisis is forcing Brandeis University to close the school's 48-year-old Rose Art Museum and to sell off a prized collection of contemporary American art, the university announced today.
  • Columbia says it lost $3 million tied to Madoff

    01/21/2009 8:13:59 PM PST · by Lorianne · 9 replies · 521+ views
    Reuters ^ | Jan 21, 2009 | Edith Honan
    Columbia University said on Wednesday it had uncovered $3 million in losses tied to accused swindler Bernard Madoff, joining other New York universities hit by the purported fraud. Columbia spokesman Robert Hornsby confirmed the losses, but declined to provide further details beyond saying that information in a Bloomberg News story on the losses was accurate. Bloomberg reported that the school discovered the losses in a review of its investments. The news service said the money was tied to a 1980 gift to Columbia's law school from an unnamed alumnus who had retained the right to decide how the funds would...
  • An Education Bailout? It Won’t Improve Schools

    01/18/2009 2:03:16 PM PST · by AJKauf · 11 replies · 382+ views
    Pajamas Media ^ | January 18 | Greg Forster
    There's a strong reason to expect stimulus spending on schools to produce no improvement. With schools, we’ve measured the effects of spending increases over and over again — and we’ve consistently found that they make no difference. There have been literally hundreds of empirical studies examining whether educational outcomes are related to spending increases. This body of evidence has consistently found that spending more money bears no relationship with the results we get from schools. In fact, the total amount we spend per student has more than doubled in the past 40 years, after accounting for inflation, while educational outcomes...
  • Yale endowment drops 25 pct amid financial turmoil

    12/17/2008 5:32:02 PM PST · by moneyrunner · 5 replies · 233+ views
    The Virginian ^ | 12/17/2008 | Moneyrunner
    Now I don't feel so bad. Yale University said Tuesday its nearly $23 billion endowment has dropped 25 percent to about $17 billion in recent months due to the recession, [market decline]... There, fixed that for the brain dead reporter. There was no place to hide in this market; here in the US, overseas, not even in commodities. I'm surrpised that Yale did as badly as they did. I would expect them to have had a large portion of their endowment in cash equivalents.
  • Mind the Gaps: Veteran teacher says schools don’t get the funding they deserve (flame on!)

    12/17/2008 1:15:33 PM PST · by pabianice · 28 replies · 804+ views
    UMass Magazine ^ | 12/08 | Varnon
    After 36 years teaching in Holyoke public schools, Bernard Healy ’72, here with his grandson Henry, reflects on his time at UMass Amherst, where he also received a certificate of graduate study in 1980. He regards education funding by property taxes as fundamentally flawed. Teaching for 36 years in Holyoke hasn’t dimmed Bernard Healy’s devotion to public education, but it has convinced him that schools are getting shortchanged. A veteran of cuts and school closings and shuffling teachers around to cover the gaps, Healy decided to hang up his hat and retire last spring. “Do I miss it? Yeah. I...
  • Catholic schools save U.S. $19.8 billion annually, education group says

    12/14/2008 6:28:01 AM PST · by GonzoII · 21 replies · 647+ views
    CantholicNewsAgency ^ | Washington DC, Dec 14, 2008
    Catholic schools save U.S. $19.8 billion annually, education group says Washington DC, Dec 14, 2008 / 04:25 am (CNA).- The National Catholic Educational Association (NCEA) claims that Catholic schools save $19.8 billion to the U.S. annually in savings by serving children who would otherwise be educated at taxpayer expense.The NCEA reports that the nation’s almost 7,400 Catholic schools enroll more than 2.2 million students, who would have been educated in public schools at an average cost of $8,701 per student."Catholic schools are a gift to the church - and to the nation," said Dr. Karen Ristau, President of NCEA, in...