With revenue down, Drexel "withholds" merit raises. - Susan Snyder, Philadelphia Inquirer

Drexel University will withhold merit raises from faculty and staff this fiscal year as the school continues to adjust to less revenue as a result of an admissions strategy designed to attract fewer, but more serious and better qualified, applicants. President John A. Fry announced the move in an email to the campus this week. "Our decision to change from a 'volume-based' approach to recruiting students will result in a period of decreased revenues from smaller incoming classes," Fry wrote. "During this five-year transition period, we have to adjust our spending to maintain our financial strength." http://www.philly.com/philly/education/20161224_With_revenue_down__Drexel__quot_withholds_quot__merit_raises.html