College disasters and their causes

Ireland“By now we have become accustomed to the parade of disaster stories from financial institutions, and on the whole we now know how they got themselves – and us – into the major messes we have witnessed. But now the question is occasionally being asked whether higher education institutions will also start to hit the headlines for these reasons. There have been plenty of stories about deficits, and some of these look serious. But the first major crisis story in Ireland is from Waterford, where the Institute of Technology has hit major financial problems. According to a recent article in the US Chronicle of Higher Education, a large number of American institutions are in crisis, with budget cuts and lay-offs. But the writer indicates that this is not all down to the bad economic environment; many of them took poor decisions during the good times that have now come to haunt them …” (more)

[Ferdinand von Prondzynski, University Blog, 27 March]

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