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Ithaca College Plans to Increase Tuition, Freeze Select Salaries and Cut Budget
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The University’s financial strains and ensuing budget cuts have been familiar topics in recent headlines. In the midst of Cornell’s financial crisis, neighboring Ithaca College is also making significant adjustments in response to economic tensions.
Ithaca College’s Board of Trustees approved a 2009-2010 budget last Thursday that took the college’s current fiscal concerns into consideration, addressing revenue shortfalls for next year due to substantial endowment losses and lower undergraduate enrollment.
According to a statement from Ithaca College President Thomas Rochon, the college will see a reduction of 240 students in next year’s total undergraduate population, resulting in a $5 million loss in tuition profits.