Education: Hard Times on the Old Quad

Battered by a sagging economy and a birth dearth, colleges are struggling hard to live within their means

These are trying days on American campuses. Faced with the double dilemma of a shrinking student population and rising costs, colleges and universities across the country are simultaneously rattling tin cups and wielding budget axes. One result: sharp cutbacks in programs and services. "The 1990s," says Cornell University President Frank H.T. Rhodes, "are going to be very tough."

He should know. Last week Cornell announced plans to seek $1.25 billion in private donations by 1995 -- the largest fund-raising target in the history of American higher education. Cornell's drive is but the latest in a series of efforts to acquire huge...

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