Brown University Seeks to Cut Costs After Back-to-Back Deficits
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Brown University has dipped into its endowment as increases in financial aid and staff salaries pressure its budget, a move the school says is becoming unsustainable without cutting costs.
The elite college in Providence, Rhode Island, is facing back-to-back shortfalls that may grow to more than $90 million next year as undergraduate tuition revenue stalls and expenses climb. Campus leadership said this week they are at the “upper limit of the fiscally responsible range for taking contributions from the Brown endowment without reducing future resources.”