User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


40° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Winter weather returns early this week.  Storm Center Update

 

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Find local businesses
on the KELO Pages!

 

Private Colleges Face Economic Challenges

February 13, 2009, 5:55 PM by Perry Groten

Private Colleges Face Economic Challenges
The University of Sioux Falls is not alone among private schools coping with a rough economy. However, administrators at Augustana College do not foresee job layoffs, or wage reductions, as part of their efforts to deal with a tight budget. 

Like USF, Augustana College has seen a shortfall in its endowment fund. But the college expects to make it through the school year and beyond with gains in other areas, like enrollment and donations. 

Augustana's economic lifeblood flows through its endowment fund, plus other alumni gifts as well as tuition payments and research grants. But the school's endowment took a hit in the financial markets last year, prompting the college to urge belt-tightening among the faculty and staff. 

"We're basically telling people to hold-the-line on expenses and to manage through that way," Vice-President of Finance Tom Meyer said.

According to Meyer, that holding-the-line approach does not include layoffs at the college. 

"We don't have any planned, we don't have anything that we've talked about," Meyer said. 

A $6 million anonymous donation paid for the school's newly-renovated library. But Meyer says future construction projects on campus could slow down because of the economy. Still, people are backing the school; financial gifts from alumni are up slightly. 

"I think that's just a tribute to the supporters and donors of Augustana College and the community.  They have helped us fulfill our mission," Meyer said. 

Meyer is encouraged that enrollment this year is higher than expected. Plus, there's a five percent increase in student applications for next year. 

Meyer adds that there are no plans to cut back on scholarships for students. But he says a hike in tuition is likely. Any final decisions are expected to be in place by July.

Previous Story

Next Story


RELATED STORIES


Sponsored
Find Local Businesses on KELO Pages!

You may also like

Dominic Fischer Found Dead During Search

12/17/2014 12:07 PM

Searchers discovered the body of Dominic Fischer in a field on Wednesday.

Full Story
Alexis Vanbochove Has Passed Away

12/17/2014 10:47 AM

According to her family, 4-year-old Alexis Vanbochove passed away early Wednesday morning.

Full Story
Rapid City Police Search For Three Men Following Violent Home Invasion

12/17/2014 8:20 PM

Rapid City Police are searching for three suspects after a violent home invasion Wednesday afternoon.

Full Story
Man Missing After Vehicle Slides Into Ditch

12/16/2014 9:50 PM

Dominic Fischer was one of three people in a vehicle that slid into a ditch due to bad road and weather conditions, several miles north east of M...

Full Story
Pierre Teenager Convicted Of Murder Is Sentenced

12/16/2014 3:45 PM

A Pierre teenager convicted of killing a classmate in 2012 has been sentenced.

Full Story


Events