Massachusetts Institute of Technology on Thursday announced a $118 million gift from an alumnus, Samuel Tak Lee, to create a real estate entrepreneurship lab that will promote social responsibility among entrepreneurs and academics in the real estate profession worldwide, with a focus on China. The gift will fund fellowships to attract students; will support research on sustainable real estate development and global urbanization; and will make the lab’s curriculum available online to learners worldwide via the MOOC provider MITx.
The University of Michigan has reportedly offered Jim Harbaugh, head coach of the San Francisco 49ers in the National Football League, a six-year $48 million contract to become head football coach at Michigan, Sports Illustrated reported. The article noted that there are several reports about the $48 million figure, and one report of a $49 million figure. Assuming the former would mean $8 million a year. That would be more than the $6.9 million a year paid to Nick Saban of the University of Alabama, currently the college football coach earning more than any other.
The Pennsylvania state auditor is expected to release a report today finding that Cheyney University is in dire financial health, and that without dramatic changes, its “ability to continue to operate is questionable," The Pittsburgh Post-Gazette reported. Cheyney is a historically black college within the Pennsylvania State System of Higher Education, a system that has faced appropriations cuts and enrollment declines in recent years, but Cheyney's problems appear worse than those of other system institutions. The university's 2014-15 budget projects a $5.5 million deficit, the audit found. Cheyney's enrollment fell 16 percent last year, and 36 percent over the period 2010-14. University officials have said that they are working on the problems identified in the report.
Submitted by Paul Fain on December 3, 2014 - 3:00am
Student-loan borrowing at public institutions has increased the most in states where government support for higher education has declined, according to a new report from the Center for American Progress. In states with the largest per-student decline in funding, for example, median student borrowing increased by $1,781 between 2008 and 2012. The center called for federal investment, matched by money from states, to help curb increasing student debt levels.
The University of Alabama at Birmingham is poised to shut down its football program this week, Sports Illustratedreported. The magazine, citing unidentifid sources, said the university plans to fire its athletics director and announce that it is discontinuing its football team, which qualified for a bowl game Saturday for the first time in a decade. The decision on football comes as UAB is developing a university-wide strategic plan.