2008 Woodie Awards
Lead Editorial
Drew not well-endowed
Issue date: 2/22/08 Section: Opinion
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We are experiencing a budget deficit. Currently, our tuition is the highest in New Jersey. President Bob Weisbuch has yet to begin his capital campaign, approaching three years in Mead Hall. Incoming students will face "minor changes" in financial aid, and merit aid will not increase, despite the tuition increase. On top of all this, the University experienced a severe drop in retention-for the third year in a row.
Our situation doesn't look good.
As a small and relatively young university, our endowment is not as strong as our competitors. Swarthmore and Smith Colleges, both of which mirror Drew in size, have endowments of $1 billion, far exceeding our own. Drew's endowment is only $215 million.
In the next couple of years, our spending needs to increase to keep up with Weisbuch's vision of growth. We are building a new residence hall, renovating old ones, and need a new University Center and Commons. The plans are being drawn up, but where is this money coming from? Drew needs money for these projects-and fast.
Thankfully, the administration isn't taking the budget deficit out on the students. As students, the Acorn staff commends the low tuition rate increase for the upcoming year. We appreciate that the administration is working to ensure that Drew students do not feel the imminent effects of the budget cuts.
We encourage the faculty and administration to continue to come up with new ways to save money. Reducing the amount of paper generated by a class is a great way to do this. Don't be afraid to go digital. Instead of charging students $30 for a course packet, use the numerous avaliable digital resources and put your readings on Moodle or the K-drive. We agree with President Weisbuch that each department needs to analyze what is really necessary and be willing to make cuts accordingly. As long as they don't affect the quality of Drew's academics, every little bit helps.
The University anxiously awaits a firm action plan to solve our complicated money problems. In the meantime, The Acorn is nervous-and impatient.
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