Florida Atlantic University has agreed to name its football stadium for a company, GEO Group, that runs private prisons, The New York Times reported. University officials are defending the deal, saying that they need private money for athletics and that GEO officials have strong ties to the institution. A number of groups have over the years raised questions about GEO Group's management of prisons, and some say that the university should not be using a major facility to promote the company.
Harvard University's investment arm has created a new position -- vice president for sustainable investing -- which will focus on the environmental, social and corporate governance issues related to Harvard's investments, The Boston Globe reported. While various groups have over the years urged Harvard to refrain from or sell certain kinds of investments, the university has generally focused on obtaining the greatest return.
The Cooper Union, which has traditionally awarded full scholarships to all students but which last year started charging tuition to graduate students, is again considering tuition for undergraduates, The New York Times reported. The move to start charging graduate students was designed to keep undergraduate education free, but officials at Cooper Union said that financial challenges may make it impossible to remain tuition-free. Many student and alumni critics, however, say that an important tradition is at risk, and some question spending priorities by administrators.
The University of Southern Mississippi is facing tens of millions of dollars in repair costs due to Sunday's tornado, The Clarion-Ledger reported. The tornado struck several campus buildings, and state officials met Wednesday to discuss the repair process. The university will resume classes today, but 87 class sections will be held in temporary locations.
Holy Family University eliminated 25 non-faculty positions last month, roughly 5 percent of its work force, Philadelphia Business Journal reported. The Philadelphia-area Roman Catholic institution has seen its enrollment dip from 3,224 to 3,094 in the last two years, its officials told the newspaper, saying that the layoffs would result in a shift of resources to "certain areas to enable us to continue to grow and prosper, one administrator said.
A California judge has ordered the University of California System to reveal how its investments in two venture capital funds have performed, The San Jose Mercury News reported. Reuters sued for the information, arguing that it is covered by the state's open-records laws, a point disputed by the university system.
Moody's Investors Service downgraded 34 higher education institutions in 2012 while upgrading only 3, the ratings agency reported Friday, an indicator of ongoing financial challenges facing colleges and universities. Analysts chalked up the downgrades to problems raising net tuition revenue, continued state budget cuts, and enrollment troubles. "Of the seven public universities whose ratings were downgraded in the fourth quarter, five had declines in total full-time equivalent student enrollment," the report notes. Prominent downgrades included the Pennsylvania State System of Higher Education and Pennsylvania State University.