Post Gazette: "Keeping a needy student enrolled in an elite college no doubt is hard for families who have lost income in the recession. It can be rough on campuses, too.
That was evident in a new projection from Carnegie Mellon University that the school will need an extra $20 million over three years to honor its commitments to partially defray the attendance cost for those students.
The additional $4 million in financial aid this year for new and continuing students, plus $16 million combined for fiscal years 2011 and 2012, complicates the outlook for a university that -- like the rest of higher education -- is trying to rebound from the economic slump."
11 comments:
This economic crisis is taking such a toll on everyone. It is incredible how much this impacts us on a day to day basis. It is sad to see that a school as Carnegie Mellon which is so worthwhile, at least by my standards, will have a hard time financially supporting its students and enabling them to attend. Then I look at some on the students on campus who are receiving a lot of aid, and they are just throwing the education away by " having a good time at college".
Hopefully, Cohen's prediction about endowments will come true, and financial aid will not be such a difficulty anymore.
I am happy to see how hard Carnegie Mellon is working to keep it's financial aid for its students, and not cut back even in hard economic times. I did not recieve any financial aid, but i have alot of friends in this program who would not have been able to come here without financial aid packages. The economic times are hitting everyone, and Carnegie is doing its best to still support its students as best as it possibly can.
I do agree with sylvianne, it's so frustrating to see kids with financial aid that just throw it away and waste all the school's hard efforts.
Oh the woes of the economy. It is great that Carnegie Mellon is trying to keep afloat in this tough economic time. It's nice knowing that they are trying to keep providing aid to students who need it. Many students at Carnegie Mellon would not be able to be here if it wasn't for some sort of aid provided by the school. Hopefully, the plan continues to work until the economy as a whole can recover.
It was incredible to see how many people from my graduating class in high school, got into a really good out of state school, but ended up going to an in-state school. 70% of my graduating class went to state schools. This article shows that not only are students hard hit by this economic crisis, but the schools as well. Considering CMU isn't exactly known for it's wealth of financial aid, I'm wondering how other schools are still shelling out so much. Here's to hoping the economy picks up, for everyone's sake.
Um....I don't believe this. I mean, yes I think that CMU has a strong commitment to financial aid for students, which I absolutely believe it should uphold and maintain, however, I don't believe they don't already have a good portion of this money. It is mind boggling the things this university spends its money on some times, and where it devotes its resources. I'm sure there are "grand plans" for the the future, and much like many other universities across the country who have to keep the future in mind while they handle to current recovering economy, but come on. $7 million dollars for a gas station? Let's reevaluate where we put some of our money...
I agree with Jeremy. Perhaps we should have taken the 7 million we spent on that gas station and used it to help needy students come here. I also sometimes wonder why so many people are staffed on this campus. From my experience in student government and on different SACs, it seems to me that anytime a department wants a new purpose and can justify it to save money in the future, they seem to get it. CMU really needs to re-evaluate where they divy up their money, and if it means maintaining obligations made to needy students, consider tapping into that endowment and making sure everyone can come back next year.
I know a lot of people who struggle to make payments for school every year. It also deters a lot of students (or, at least their parent's) from coming here. Even though college enrollment is at an all-time high now, the tuition is as well. Today's generation comes out of school with tens and maybe even hundreds of thousands of dollars in debt. Even though the average college graduate will make about 60% more than the average high school graduate, some people are still deterred by the huge debt they will acquire.
It really is a shame how many people get accepted and those who cant afford to come because they didn't get enough financial aid. The recession is taking a toll on every one and almost every industry . I agree with Sylvianne about how students receive aid and then are screwing up by skipping or not doing work or are just here to got "the college experience". i do like that CMU is trying to do more.
It's awful that the economic crisis has had such a toll on the various universities, and especially one like Carnegie Mellon, which has so many different opportunities. There are a lot of kids who have the skills to succeed here, but not the money and it's a shame that they don't have the opportunity to do so. I hope that Carnegie Mellon continues to work hard at keeping up financial aid as much as possible and nice to see them striving to help out students come to this wonderful university
It is great to hear that they are trying to let everyone that wants to attend CMU be able to with no worry about their financial situation. I am not really surprised that CMU is short $20 million for financial aid it is reflective of the environment ,every one is short for money. I hope that we continue to see the endowment grow so then we might see our tuition come down and see the staff be able to get there annual raises. If we are having this problem now I wonder if the city would have passed the law to tax all tuition in the city. I think that CMU would have a lot different discussion today rather than the $ 20 million that CMU is short for financial aid.
Speaking as a student who would not have been able to come to CMU were it not for financial aid, I think it's great that CMU is trying hard to keep funding for students that need it. I completely agree with Sylvianne though; it can be really annoying to see students around campus--who are here on financial aid--wasting the experience and focusing on partying and their extra-curriculars instead of their schoolwork. You can do that at any school. I also agree with Jeremy and Jon. CMU seems to spend money on some slightly ridiculous things, instead of helping support students. I understand all of those come from different budgets, but, do we really need a gas station?! I really hope that CMU can figure out a way to continue to provide financial aid, but also give the professors and staff much deserved raises.
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