Category Archives: Finance

The money that makes academe tick.


Kentucky State U. Re-Enrolls Most Students Kicked Out for Tuition Owed

Kentucky State University has re-enrolled 70 percent of the students it kicked out last week for failing to pay their tuition bills, the university announced on Wednesday.

One week ago, Kentucky State said it had dropped 645 students from its enrollment, citing their outstanding debts in the form of unpaid tuition, fees, or room and board. It said on Wednesday that it had re-enrolled 452 of those students, who have “paid their balances in full.” Enrollment at the historically black university no…


Kentucky State U. Drops One-Quarter of Student Body, Citing Tuition Owed

Kentucky State University announced on Wednesday it had dropped 645 students—roughly 25 percent of its enrollment—because they had not paid tuition, according to the university’s website. The university’s president, Raymond M. Burse, cited a $7-million budget deficit in the decision to disenroll students who owed the university more than $1,000 in tuition, fees, or room and board.

According to the historically black institution, students with outstanding debt were warned 22 times in the past 14 …


UCLA Offers Help to Students and Workers Whose Cars Were Damaged in Flood

The University of California at Los Angeles is offering emergency assistance, in the form of interest-free loans, to students and staff whose cars were damaged in a July 29 flood caused by a water-main break. The Los Angeles Times reports that loans of up to $5,000 will be available, and recipients will have two years to pay them back. In addition, a relief fund of more than $55,000—raised through crowfunding—has been established by the UCLA Foundation. Nearly 1,000 cars were damaged in the …


Students, Faculty, and Alumni Challenge Cooper Union in Court

Advocates for the no-tuition policy established by Peter Cooper, founder of the Cooper Union for the Advancement of Art and Science, on Friday asked a state judge in Manhattan to block the institution’s plan to start charging tuition this fall, The New York Times reported. The Committee to Save Cooper Union says the policy was part of the trust the founder established in 1859 and requires court approval to be changed. Lawyers for the trust say that it requires the college only to offer free nigh…


Campus Chief Takes a Pay Cut So Lowest-Paid Workers Can Earn More

Raymond M. Burse, interim president of Kentucky State University, is taking a pay cut in order to give raises to 24 employees at the low end of the institution’s pay scale, the Associated Press reported.

Karen Bearden, chair of the university’s Board of Regents, said the board had approved Mr. Burse’s request to reduce his salary by the amount necessary to bring the employees’ pay up to $10.25 an hour. Some were making as little as $7.25 an hour.

Mr. Burse’s salary will drop to $259,744, about…


Papers Offer Strategies on Affordability and Access at Regional Public Universities

A set of papers released on Thursday by the public-policy firm HCM Strategists focuses on ways that regional universities can improve access and affordability for low-income students. The papers are part of a project called “Maximizing Resources for Student Success,” which was financed by the Bill & Melinda Gates Foundation. They focus on a range of topics including competency-based education, tuition and financial aid, reducing time-to-degree, and strengthening  transfer pathways for community-…


After $13-Million Fraud, Ball State U. Commissions External Review

Ball State University will hire a former federal prosecutor to investigate how it was defrauded of $13.1-million, The Star Press reports. Deborah Daniels, an Indianapolis lawyer and former U.S. assistant attorney general, will also recommend ways for the university to better protect itself from fraud.

The university fell victim to the vast fraud because of two investments made by a former director of cash and investments, Gale Prizevoits, whom Ball State fired in 2011. Two men have been convicte…


U. of Southern Maine President Will Leave Post for Job With System

Theodora J. Kalikow will step down this month as president of the University of Southern Maine to take a job with the University of Maine system as an acting vice chancellor who will work on a one-year community-engagement effort, the Portland Press Herald reported.

Ms. Kalikow’s new job will run through the end of next June, when her current contract expires. She has served as the Southern Maine campus’s interim president during a period of financial turmoil. In April she reversed course on a c…


U. of Dayton Will Divest From Fossil Fuels

The University of Dayton announced on Monday that it would begin divesting coal and fossil-fuel stocks from its $670-million investment pool, saying that it was the first Roman Catholic institution in the United States to take such action.

The new policy was adopted unanimously by the university’s Board of Trustees. Dayton will first eliminate fossil-fuel holdings from its domestic equity accounts, and will later develop plans to do so for its international holdings. The university said truste…


After Short Discussion, Penn Board Opts Not to Divest From Tobacco

The University of Pennsylvania will not divest its $7.7-billion endowment of holdings in tobacco companies, after its Board of Trustees on Friday discussed a proposal to do so and opted not to take a vote, The Philadelphia Inquirer reports. During the meeting, the board’s chairman, David L. Cohen, said tobacco is not a “moral evil.”

A group of professors had called on the university to divest, writing an open letter to the board in anticipation of Friday’s meeting. But after a brief discussion, …