Higher education budgets and the global recession: Tracking varied national responses and their consequences — from cshe.berkeley.edu
Excerpt from the Abstract:
States have very limited ability to borrow funds for operating costs, making the federal government the last resort. In short, how state budgets go, so goes US higher education; whereas most national systems of higher education financing is tied to national budgets with an ability to borrow. Without the current stimulus funding, the impact on access and maintaining the health of America’s universities would have been even more devastating. But that money will be largely spent by the 2011 fiscal year (Oct 2010-Sept 2011), unless Congress and the White House renew funding support on a similar scale for states that are coping with projected large budget gaps. That now seems unlikely.
Original posting from George Siemens — Higher Education Budgets and the Global Recession