Briefly: Princeton ups expected endowment drop to 30 percent

Princeton University expects the value of its endowment to fall 30 percent of its fiscal year 2008 peak of $15.8 billion by June 30 of this year, Princeton President Shirley Tilghman announced in a university-wide letter Monday. She also said Princeton hopes to cut $88 million from its budget for the next fiscal year. Previously Princeton had anticipated an endowment loss of only 25 percent. Princeton will freeze pay for tenured faculty and staff with salaries over $75,000, Tilghman said Monday, saving the university $4 million.

Comments

  • yalie

    uh, kind of an awkwardly worded headline, guys.