Spring Break
University financial aid funding stable
by Michelle Liberman
Staff writer
News | 11/25/08
Posted online at 4:22 AM EST on 11/25/08
Financial aid packages for students in the incoming class of 2013 will be similar to last year's, according to University admissions officials, while national trends indicate that the financial crisis has caused other colleges and Universities to cut back on the amount of financial aid they can offer students.
Institutions have been forced to cut back on financial aid for the upcoming class, but the effects on financial aid at Brandeis are said to be minor, Senior Vice President for Students and Enrollment Jean Eddy wrote in an e-mail to the Justice.
At Brandeis, like other institutions in the United States, the crisis in the financial markets has led to spending cuts, delayed projects and layoffs.
University endowments across the United States have been shrinking in value due to the financial crisis, which has caused the budgetary constraints. University President Jehuda Reinharz wrote in an e-mail to the student body on Oct. 3, "We are confronted with reduced endowments earnings, reduced gifts, the need for increased financial aid and an overall increase in our operating costs."
Brandeis administrators have not released the figures for the budget cuts for the next fiscal year, but The New York Times reported that cutbacks at other institutions will put pressure on financial aid given out to prospective students.
The Boston Globe reported that the Massachusetts Institute of Technology will be cutting $50 million from its annual budget reports next fiscal year, and Stanford University anticipated $45 million in budget cuts, according to The New York Times. Included in many of these budget cuts is a decrease in the amount of financial aid budgeted for prospective students.
However, Brandeis Dean of Admissions Gil Villanueva wrote in an e-mail to the Justice, "To my knowledge, the financial aid for this incoming class is similar to last year's allocation."
Still, the University is feeling pressure to keep the financial aid packages at their current level.
Institutions have been forced to cut back on financial aid for the upcoming class, but the effects on financial aid at Brandeis are said to be minor, Senior Vice President for Students and Enrollment Jean Eddy wrote in an e-mail to the Justice.
At Brandeis, like other institutions in the United States, the crisis in the financial markets has led to spending cuts, delayed projects and layoffs.
University endowments across the United States have been shrinking in value due to the financial crisis, which has caused the budgetary constraints. University President Jehuda Reinharz wrote in an e-mail to the student body on Oct. 3, "We are confronted with reduced endowments earnings, reduced gifts, the need for increased financial aid and an overall increase in our operating costs."
Brandeis administrators have not released the figures for the budget cuts for the next fiscal year, but The New York Times reported that cutbacks at other institutions will put pressure on financial aid given out to prospective students.
The Boston Globe reported that the Massachusetts Institute of Technology will be cutting $50 million from its annual budget reports next fiscal year, and Stanford University anticipated $45 million in budget cuts, according to The New York Times. Included in many of these budget cuts is a decrease in the amount of financial aid budgeted for prospective students.
However, Brandeis Dean of Admissions Gil Villanueva wrote in an e-mail to the Justice, "To my knowledge, the financial aid for this incoming class is similar to last year's allocation."
Still, the University is feeling pressure to keep the financial aid packages at their current level.
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