May 1, 2009

Cornell Asks Donor for Early Pledge Payoff

By KATHRYN MASTERSON

Cornell University's request to one of its top donors, Sanford I. Weill, to pay his $250-million pledge early — at a reduced rate — may be a tactic more colleges could use to raise much-needed cash in this recession.

Mr. Weill and his wife pledged $250-million to Weill Cornell Medical College in 2007 as part of a $300-million donation to the university. The bulk of that amount was a bequest, and some of it comes from the couple's family foundation.

In April