Finding brave new ways to cope with inflation and pay the bills
Caught in a perilous financial crunch, private colleges are devising ingenious plans for raising revenues and cutting costs.
A Coin for a Library
Construction had started on Yale University's new Seeley G. Mudd Library. But inflation was exceeding expectations, and Yale needed to find another $1.5 million as the projected construction cost grew to $6.7 million. Meanwhile, resting virtually unseen in a library vault was the Yale coin collection's most famous gold piece, a 26-gram doubloon struck in 1787 by New York...
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