Budget cuts in the name of Barnard - President Debora Spar, Columbia Spectator

For decades, Barnard—like most colleges and universities—has run a small but significant operating deficit. Put simply, that means that the tuition revenues we take in each year, combined with donations and the draw from our endowment, are less than what we spend on financial aid, general maintenance, and salaries. In years past, we covered this deficit—which runs at around $8 million, or roughly 5 percent of our annual budget—by using bequests made in that year, and by raising tuition. This is one of the reasons why our tuition—again, like that of every college and university in the country—has been steadily rising at nearly double the rate of inflation. http://www.columbiaspectator.com/2012/10/02/budget-cuts-name-barnard