Shaw seeks new leader as president leaves - by James Gallagher, Triangle Business Journal

While all universities have been hit by the down economy, small private universities, which tend to rely heavily on tuition as their main source of revenue, are expected to be hurt the most. Higher education watchers expect more students to opt to go to public universities, which tend to be less expensive than private schools. Shaw is not the only private institution in the area suffering. Meredith College instituted several cuts to trim expenses. And Duke University has instituted a wage freeze and is looking to cut as many as 700 positions, largely in response to a $2 billion drop in the value of the university’s endowment.