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Tuition Hikes and Spending Cuts—What’s Behind the Financial Woes of US Universities?

Colleges and universities across the country, both public and private, face financial challenges ahead of the upcoming academic year, regardless of their size, wealth, and prestige. Layoffs or hiring and wage freezes were recently announced at affluent schools including Cornell, Temple, Northwestern, Duke, Notre Dame, Emory, the University systems in California, Maryland and Nebraska, and the University of Kansas, according to their respective websites. Tuition hikes, meanwhile, are planned at public universities this fall in Alabama, Illinois, Minnesota, Montana, Oklahoma, and Oregon, in addition to several private schools, including Brigham Young, Stanford, Marquette, Georgetown, and most of the Ivy League institutions, their leaders announced in recent weeks....

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