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Even MIT is tightening its belt

December 9, 2003


If you heard that a university was asking its staff and students to turn down the heat, use e-mail instead of regular mail, bring brown-bag lunches to departmental meetings and write fewer checks on campus, youd probably assume the school in question was a public college or university.

And youd be wrong.
December 9, 2003


If you heard that a university was asking its staff and students to turn down the heat, use e-mail instead of regular mail, bring brown-bag lunches to departmental meetings and write fewer checks on campus, you'd probably assume the school in question was a public college or university.

And you'd be wrong.

According to the New London Day, the Massachusetts Institute of Technology has not only implemented these cost-saving measures but also plans to shut down part of its campus over the holidays. MIT, which has the fifth-largest private university endowment in the nation, is facing a $70 million budget shortfall blamed on “higher expenses and lower-than-expected returns on its endowment.”