Reed College had to change its admittance list this year to deal with a shortage of financial aid. Altering enrollment does not fit with the school's academic goals, but it allows the campus to maintain other projects and priorities.
With their endowments ravaged by the financial markets and more students clamoring for assistance, private colleges like Reed are making numerous changes this year in staff, students, tuition and classes that they hope will tide them over without harming their reputations or their educational goals.Reed and others have admitted more students to bolster revenue with larger classes. Many are cutting costs by freezing or reducing salaries, suspending hiring and postponing building maintenance and construction. And the cost of attendance is rising; in Reed’s case, by 3.8 percent, to nearly $50,000 a year for its 1,300 students.
Read the full story in The New York Times.