The Memphis College of Art, a private, nonprofit institution, is experiencing severe financial problems, The Commercial Appeal reported. The college's board has declared financial exigency, laid off four faculty members and announced plans to sell much of its art collection. Officials believe that the cuts have turned things around, and say that the budget is now balanced. But the budget for 2012-13 is down 28 percent from the budget for 2011-12.
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- Faculty members at struggling colleges say they were blindsided by cuts
- Myths on Program Elimination
- English universities face new budget and enrollment realities
- AAUP survey finds that average faculty salary increased by rate of inflation in last year
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