by KYW's Dr. Marciene Mattleman
Harvard, the nation’s richest university lost $8 billion of its endowment last year. While that amount is almost too much to imagine, be assured that the $29 billion left will be there for future generations.
However, even the rich are feeling the pinch. The university has put a freeze on faculty salaries and staff hiring. Two of six elevators at the Holyoke Administrative Center have been shut down.
A reindeer ice sculpture that was described in the “Education Life,” section of the New York Times spring supplement as “charming the faculty” of the business school’s holiday party, this winter made no appearance.
The heat in the Arts and Science Center was lowered from 72 to 68 degrees and with less air-conditioning this summer, potential savings will be $600,000 annually.
The course catalogue will be online only and the budget for the information booklet for prospective undergraduates has been slashed 50%.
Many feel that the free coffee on Friday mornings in the Humanities Center was the unkindest cut of all.
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