Rutgers U. budget slashed 15 percent - Chris Zawistowski, Daily Targum

With the state budget signed and passed last week, the University is bracing for what several administrators are calling one of the most challenging fiscal years in school history. “As you can imagine, it is with much sadness that I present this budget information to you …and I truly wish that I had better news to report,” said University President Richard L. McCormick in a letter to the University community regarding the budget. “However, the economic troubles that haunt New Jersey and the nation have greatly exacerbated the challenges we have already faced for more than a decade as a result of the state’s longterm trend of underfunding higher education.”