Transitions in Higher Education

Last fall when a group of college presidents convened for their annual meeting there was a pervasive sense of angst among them. The downturn in the economy was just setting in. All of them talked about freezes and budget adjustments. Some were worried about the Fall 2009 class. That feeling has accelerated a bit this spring. But as I have talked to people on campuses there have been some decidedly mixed signals. Applications to many places are up substantially. But enrollment commitments are slightly down for this time of the year. Many places are still in the worried mode. At the same time the federal stimulus package has (and will) pump lots of new student aid and research dollars into institutions. The losses in endowments, which seem to have affected the most affluent in more severely will take a couple of years to work through budgets. It is a strange time.