The Globe and Mail: Universities eye ‘painful’ cuts in wake of crisis
STOCK-MARKET MELTDOWN: HUNDREDS OF MILLIONS OF DOLLARS VANISH FROM POSTSECONDARY COFFERS
With endowment funds taking a beating, student aid, scholarships, hiring and academic programs could all be on the chopping block
Canadian universities could be forced to cut student aid, scholarships and funding for various programs as early as next spring because of multimillion-dollar losses in their investment holdings.
The recent freefall of financial markets, coupled with a wait-and-see attitude of donors, has campus leaders across the country preparing for the worst and hoping for
a quick recovery.
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