The loss of billions of dollars in Harvard’s endowment has sent the University into the type of stewardship that we in the real world of higher education have to cope with all the time.
I read the other day that just in their school of Arts and Sciences they need to cut $220 million from the operating budget.
One of the solutions was to run the shuttle buses to the parking lot on 20 minute intervals rather than 10 minutes. It’s going to take a lot of shuttle bus runs to make up that type money.
Today, the higher ed news came out with this new addition from Harvard. Too many in higher education have never had to be careful about spending in the past, so it is becoming almost comical to see them grasping at straws to avoid cutting their bloated budgets.
Harvard Licenses Line of Preppy Clothing
Harvard University has licensed its name for use by a designer clothing company that will soon be selling a “Harvard Yard” line, Bloomberg reported. While financial terms were not revealed, the clothing line may relate more to the university’s desire to replenish its endowment. While Harvard has made a point in recent years of stressing that it is open to students of all economic means, the same may not be said of the clothing. Trousers will start at $195 and shirts at $160, and the look will be preppy.