Nearly every economic indicator, from the stock market to unemployment and beyond, suggests that a global financial crisis is imminent. While an economic downturn may affect every parent, family, and taxpayer, education special-interest groups are demanding that Washington bail them out now, regardless of future tax or spending implications. These…

This chapter describes the impact of major changes in community college funding on its open-access mission, as well as on the work and responsibilities of college leaders as they attempt to balance the increasing demands made of their institutions while concomitantly grappling with diminished public fiscal support.

Illinois confronts a financial crisis that threatens its capacity to implement the state's long-fought-for plan for improving our education system. Two-thirds of our school districts are now deficit-spending. Districts have dismissed at least 6,400 educators and aides, closed schools, lengthened bus routes, and reduced programs in everything from…

Two years after the U.S. Department of Education awarded $650 million in Investing in Innovation grants, some of the winners are still facing financial uncertainty. Other grantees have also encountered problems with matching funds coming through, and some nonprofit grantees have been forced to contribute their own money to match the initial…

Even as they struggle to climb out of deep financial holes, states are facing lawsuits that contend they do not meet their constitutions' requirements to provide sufficient funding to districts and fail to provide resources for disadvantaged schools and student populations. This article reports on legal battles in Texas, Colorado, and elsewhere…

Student loan debt is fast becoming a fact of American life. Students are borrowing more money for college and are being forced to pay back large sums of their income. This report offers a new way to pay back student loans based on each individual's earnings. International Income-Contingent Loan Systems are appended. (Contains 1 figure and 40…

In the 1990s, teachers' and other educators' salaries increased enough to make Georgia number one in salaries in the South and solidly in the Midwest across the nation. Since 2004, school districts have been trying to make do with much less as this recession continues to force more cuts. Georgia has a very high unemployment rate of 10.25%, a high…

It is the worst of times for state budgets. But across the country, some elected officials say it's the best time to rethink how their states spend money on education. Governors and other officeholders are arguing that their states have no choice but to re-examine assumptions about how schools are using the money they currently receive, given…

When Dr. James Ammons took the helm of his alma mater, Florida A&M University (FAMU), he inherited a nationally recognized school facing numerous crises. Ammons, who served as provost of FAMU during its heyday in the 1990s, knew the school was mired in trouble with the state, having accumulated dozens of state auditor questions about its…

State and local governments today are, with few exceptions, in deep financial distress. While some governors can offer the recession, the housing crisis, or the loss of an important industry as an excuse for poor finances, many states are simply structurally insolvent. In this article, the authors discuss the primary cause of the states' long-term…

Last October, when CBS News's Bob Schieffer welcomed 57 million television viewers to Hofstra University for the third presidential debate, the moment marked perhaps the best chance yet for the university to show off its efforts--with the help of some 4,000 journalists to cover the event--to remake itself from a sleepy commuter campus into a…

With the economic climate growing worse week by week, directors of scholarly organizations are preparing for the likelihood that 2009 will be a grim year for their finances. None report that they face immediate crises, but many say they fear that certain kinds of revenue--from conference attendance, foundation grants, and especially investment…

School business officials kept a close watch on the financial markets this week--and on district investment portfolios and teacher-retirement funds--as stock prices gyrated and once-sound institutions got government bailouts or crumbled into bankruptcy. While financial observers said it was too soon to predict how Wall Street's upheaval might…

The current economic crisis has naturally reached into one's pocket and made many people anxious about their own finances. As consumers ride out these treacherous times, where can they go to find advice on managing and paying down their debt, protecting their investments, incomes, and retirement plans, and applying for mortgages in a tight credit…

The British system of student loans has a zero real rate of interest, less than it costs the government to borrow the money. This paper discusses the problems that arise from interest subsidies in the UK system of student loans; systems in other countries, for example Australia and New Zealand, face similar problems. The topic appears to be narrow…