The challenges with which college and university boards must grapple promise to become only more complex in the coming years, placing ever-greater demands on the leaders of those boards. This article presents a conversation between Association of Governing Boards of Universities and Colleges (AGB) President Richard D. Legon and two AGB leaders who…

The steep economic recession, coupled with increased national expectations and demand for higher education, poses serious challenges for board and presidential leadership. A special panel at the recent National Conference on Trusteeship of the Association of Governing Boards of Universities and Colleges (AGB), moderated by AGB President Richard…

Closing programs is the most severe of the three strategies campuses typically consider during difficult financial times: generating new revenue, making across-the-board spending cuts, or undertaking targeted cuts. Closures of academic programs can have lasting negative fallout and the savings may not be as great as anticipated, but at certain…

At many of the nation's most prominent institutions of higher education, sports are far more than just extracurricular activities or even campus spectacles. Contests in football, basketball, and often other sports unite colleges and universities with their students, fans, friends, and alumni, both in person and across the globe. Big-time college…

In the grand economic scheme, the intense public pressure to lower costs came late to higher education. No institution--public or private, non-profit or for-profit--has escaped the always difficult, sometimes protracted discussions of how to increase efficiency and lower costs. Although this intense pressure predates the recent great recession,…

What is most striking about the efforts of colleges and universities to recover from the repercussions of the global financial crisis is the extent to which many are determined to frame the moment as an opportunity. Much of the discourse surrounding the response of academic institutions to the recession, however, has been couched in the context of…

There are currently three categories of independent colleges and universities: Those that are flush with resources, those that are stable but suffering from the effects of the recession, and those whose financial stress has been exacerbated to the breaking point. In this article, the author poses solutions that may represent useful options for…

The economic meltdown has hit U.S. college campuses, and higher education is on the chopping block in state budgets, with cuts totaling hundreds of millions of dollars already approved and hundreds of millions in more cuts on the way. As veteran legislators, the authors have seen this story play out before in previous recessions. The mindset on…

Most economists expect the current economic downturn to be one of the most severe since World War II. In fact, there is a very real danger that the changing circumstances of students, families, state and federal governments, and educational institutions could interact to significantly diminish educational opportunity in the United States. The most…

The current downturn has the potential to be more severe and longer lasting than the recessions of the 1970s, '80s, '90s, and early 2000s. By now, rivers of ink have been spilled documenting the financial and economic crisis afflicting the United States and much of the globe. While numerous articles have examined the impact on higher-education…

Discusses why volatile markets and new donor expectations make now a good time to rework payout rates and gift agreements to bolster financial and strategic performance. Suggests seven options for action. (EV)

As Americans near the end of the first decade of the new millennium, higher education in the United States is caught in a classic "good news/bad news" dilemma. The good news? Broad recognition of the importance of higher education to the country's future, along with larger federal funding increases than at any time in their history. The bad news?…

Suggests that college governing board investment committees should respond to the current economic and terrorism-related crisis by using SWOT analysis (strengths, weaknesses, opportunities, threats) to examine factors that can crystallize money-management decision points. (EV)

While conventional wisdom says that college and university endowment spending policies must retain the real economic value of their endowments over the long term, senior administrators and trustees should review endowment spending regularly and determine what excess dollars are available for investment in programs, infrastructure, and other high…

Discusses how a long recession will increase students' need for financial assistance, but that unfortunately, institutions are unlikely to cut back on merit aid to do more for the neediest students. (EV)