In an all-campus email sent moments ago, Cappy described Vassar's financial losses in the current economic crisis, and announced plans for cutting corners in the coming years.
Cappy reports that between June and September, Vassar's endowment has fallen $80 million. Damn.
The college will also be taking steps to maintain our budget. These include "not filling any vacant positions" unless necessary and "looking at all of our operating expenses to see where else we can make savings."
These decisions were made with the Board of Trustees last week.
Update: According to The Paper Trail, other schools facing major financial losses include Northwestern, University of Wisconsin, and the University of Maryland.