Sagging economy hits UGA foundations - ASSOCIATED PRESS

The University of Georgia likely will see cuts to student scholarships, faculty travel and other programs after the two private foundations supporting the institution lost about $180 million in assets in the last year. The UGA Foundation and the Arch Foundation had a combined worth of about $730 million in June 2008. The two have lost about 25 percent of their assets as the sagging economy worsened.