Credit Crisis Strikes Colleges

Last week’s financial meltdown wreaked havoc on business operations at colleges and universities prompting some institutions to take radical steps such as freezing hiring and halting building projects to cope with the fiscal turmoil, reports The Chronicle of Higher Education.

Some institutions already are changing their fund-raising plans, based on the economic troubles, the newspaper said. The University of Colorado had been gearing up to start a fund-raising campaign but might now delay it. Westminster College in Missouri was also preparing a fund-raising campaign to double its endowment, starting this year, The Chronicle reported.

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