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Local colleges see savings shrink

Endowments lose funds as stock markets weaken

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Colleges are seeing the value of their endowments drop by millions of dollars as the economy tanks, putting pressure on even deep pockets. Rensselaer Polytechnic Institute and The College of Saint Rose have restricted hiring and put construction projects on hold. Union College is leaving some open positions vacant. Officials acknowledge that tuition hikes are possible, a burden for families already struggling in the current economic climate. Diane Blake, Union College’s vice president of finance ...


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