institutionalfinance

Pearson Could Earn $186M From U. of Florida Deal

Pearson Embanet could earn up to $186 million over 11 years from its deal to manage the new University of Florida online college, The Gainesville Sun reported. The article details efforts by the university to keep many details (including how Pearson Embanet's performance will be judged) private, saying that they are trade secrets.

 

Rethinking California's Master Plan

California's storied Master Plan has led to a structure and financing of public higher education that is out of sync with the needs of students and the state, according to a new report from the Institute for Higher Education Leadership and Policy (IHELP) at California State University at Sacramento. The report calls for heightened planning and collaboration at the regional level. It also makes the case for more cost-effective specialization at individual institutions as well as the broader use of technology, such as online education.

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Duncan Says Coaches’ Pay Should Be Tied To Academics

Education Secretary Arne Duncan said Sunday that college coaches and athletics directors should be paid based on how well their players are performing in the classroom.

In an interview on NBC's “Meet the Press,” Duncan said he was concerned that too many athletes make money for their university but don’t end up earning degrees.

"The incentive structures for coaches, the incentive structures for ADs, have to be changed so much more of their compensation is based not upon wins or losses but around academic performance and graduation,” Duncan said. "University presidents and boards have been very complacent and soft on this issue, and you have to really look at the leadership of universities here."

Penalties for athletes performing poorly should not only hit the universities, but should apply to and follow coaches as well, he added.

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To Settle Suit, TIAA-CREF Agrees to Pay $19.5 Million

TIAA-CREF has agreed to pay more than $19.5 million after allegations that it illegally skimmed money from account holders.

Several college instructors accused TIAA-CREF of keeping money their accounts earned between the time the instructors tried to transfer or withdrawal money and the time TIAA-CREF completed the transaction. TIAA-CREF, the lawsuit alleges, kept roughly $40 million in such gains it should have turned over to its customers. The settlement money will be divided up pro rata by nearly 59,000 educators. The value of the proposed settlement is about half what plaintiff’s attorneys accused TIAA-CREF of keeping. TIAA-CREF is also agreeing to pay $3.3 million in legal fees.

TIAA-CRAF did not admit wrongdoing in the settlement, which has received preliminary but not yet final approval from a federal district court judge in Vermont.

"We are pleased to have reached a settlement, which is pending court approval,” a spokesman for TIAA-CREF said in an email. “We continue to deny any wrongdoing and have resolved this litigation to avoid the distraction and expense of litigation. As always, our clients remain a top priority for us.”

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Pitzer College says it saves its endowment by temporarily ending spending

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One approach to preserving an endowment? Simple: Stop spending it. 

Student advocacy group blames state disinvestment for tuition increases

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Grading states' support for higher education, an advocacy group for students makes the case that legislators and governors are responsible for rising public college tuitions.

Accreditor Places Martin University on Probation

Indiana's Martin University has been placed on probation by the Higher Learning Commission of the North Central Association of Colleges and Schools, which cited concerns about the institution's finances and governance and the adequacy of its faculty and staff. The commission also placed several other institutions -- Arkansas Baptist College, Oglala Lakota College, Southwestern Christian University, and Salem International University -- on notice, which is less severe than probation. Kansas City Art Institute and Morton College were removed from notice.

Marietta College Cuts 20 Full-Time Positions

Marietta College, a private institution in Ohio, is eliminating 20 full-time positions to deal with a budget shortfall, The Marietta Times reported. College officials said that they needed to make cuts to be able to make investments needed to promote the college's long-term sustainability.

 

Indiana Considers Shift in Deadline for State Aid

Indiana officials are considering whether the state's March 10 deadline for applications for state student aid is too early, and discourages applications from those who may most need assistance, The Indianapolis Star reported. The deadline is earlier than those of most states and the deadline for seeking federal aid. Officials believe that up to half of the state residents who meet eligibility requirements don't apply. Many say that nontraditional students don't figure out their college plans until later in the year, and so are missing the chance at getting state aid. A flip side of this issue, however, is that if more students apply, and the state doesn't provide more aid, the size of grants could shrink.

 

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Former college president shares 9 elements for building a sustainable campus

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A former college president identifies 9 elements for success.

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