May 2, 2008

Colleges Step Up Fund-Raising Efforts to Support Student Aid

By BECKIE SUPIANO

With the economy sputtering and Congress pressuring colleges to be more affordable, many institutions feel a heightened need to provide more financial aid — and they are turning to alumni and other private donors for help.

While specifics vary from college to college, all types of institutions are feeling the pressure. Many smaller, private colleges find themselves in the tough position of having to dedicate increasing sums from their operating budgets to pay for such aid.

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