Wednesday, July 6, 2016

In a financial pinch, Haverford College will cap financial aid and expand the freshman class - Susan Snyder, Philly.com

A college expecting a sound future can't continue to spend more than it takes in and draw increasing amounts from its endowment to balance the budget, said Haverford president Kim Benston in a letter published in the student newspaper. Even colleges with endowments as large as Haverford's are not immune to the financial challenges hitting universities across the country. A college expecting a sound future can´t continue to spend more than it takes in and draw increasing amounts from its endowment to balance the budget, said Haverford president Kim Benston in a letter published in the student newspaper. Haverford's board of managers this month approved a plan to set an annual cap on the college's mushrooming financial aid budget and increase the size of the freshman class by seven students a year for five years in an effort to balance the budget. http://www.philly.com/philly/education/20160626_In_a_financial_pinch__Haverford_College_will_cap_financial_aid_and_expand_the_freshman_class.html

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