Thursday, January 17, 2008
The LA Times reports that a study group headed by UC Berkeley Chancellor Robert Birgeneau has recommended to the University of California Board of Regents the creation of a $2 billion endowment to provide additional financial aid for undergraduates. The study group's report suggests that the needed funds could be gathered from a variety of sources, including private donations, state support, and student fees, over 10 or so years. The article states that some members of the Board of Regents greeted the report with skepticism, especially since graduates of UC schools generally face much lower student loan burdens upon graduation than students who attend private universities. Chancellor Birgeneau acknowledged that the study group's recommendations are along the same lines as recent proposals from some private universities. Previously blogging is available on the proposal to increase financial aid by Harvard and Yale.