Universities Lose Billions as Recession Deepens

Geoff Maslen
Few higher education institutions around the world appear to have escaped the collapse of financial markets. In Asia, Africa, North America, Europe, Britain and down under in Australia and New Zealand, universities have been hit hard as the value of their investments in property and shares and, in many cases, their income from diverse sources crumples. How to counter, or at the very least cope with, this alarming situation – unique in the experience of university managers – will be the great challenge in the year ahead. As the following stories show, for higher education the boom days are well and truly over.
Full report on the University World News site
Source: University Univertsity News, Issue No: 0057 14 December 2008