November, 2008
Dear Brown Parents and Alumni,
The historic economic turmoil confronting the nation and the world is affecting individuals, families, and institutions broadly. Brown entered this period in a position of strength, having made significant investments over the past several years through the Plan for Academic Enrichment. Our endowment and fund-raising had performed well, and we are today more than 80 percent of the way toward the Boldy Brown campaign goal of $1.4 billion. During this period we increased the size of the faculty by more than 20 percent, enhanced financial aid for all students, reduced the student-faculty ratio, added seminars and courses, increased opportunities for undergraduate research, and made significant investments in facilities and infrastructure.
Today, economic uncertainty presents the greatest challenge facing the University. I am writing to inform you about a number of steps that we are taking to prepare for the range of economic conditions that may be on the horizon and to ensure that we can continue to advance academic excellence at Brown throughout such a period. Families are understandably concerned about the economy’s impact on their capacity to finance their children’s education. Our priority will be to protect the work of students and scholars. First and foremost, this means doing all that we can to ensure that our students remain enrolled at Brown. Provost David Kertzer recently sent a letter to members of the Brown community identifying changes in policy to enable students with outstanding fall semester balances to pre-register for their courses and return to campus for the semester. For more details on this change, please view the full text of the letter at http://financialaid.brown.edu/Cmx_Content.aspx?cpId=314.
The Provost also reminded members of the community about the financial aid policy we announced last February that eliminates loans for students with family incomes less than $100,000, reduces loans for all students who receive financial aid, and eliminates the parental contribution for most families with incomes up to $60,000. We expect that more students will be eligible for this benefit in the year ahead, and we are planning accordingly. In addition to this policy change, there is a range of options to assist families in financing a college education. Our financial aid office has increased the number of counselors available to assess family and individual circumstances and possible alternatives for them during this time.
On Tuesday, November 4, at the regular monthly meeting of the faculty, I reported on a number of additional actions that we will take to ensure that the University will have the capacity and flexibility to protect the most essential elements of the University’s academic excellence and positive momentum. We will institute a pause on hiring through January 2009 for all staff and administrative vacancies; review and possibly slow the pace of major capital projects; review future faculty searches to ensure they enhance Brown’s research and teaching mission; and establish mechanisms to identify organizational efficiencies. In taking these steps, we seek to position the University to:
- meet increased need for financial aid for current students and payment flexibility for families whose finances have been adversely affected by tightening credit;
- continue to take advantage of strategic opportunities even in the context of these constraints;
- improve the capacity of the University to act quickly to reduce expenditures further if the need arises; and
- maintain the University as a stable work environment for our employees.
We view these as prudent and responsible steps to meet our highest priorities and to sustain the momentum we have built up in recent years. These measures do not imply that the University will be entering a period of dormancy. We will continue to initiate carefully planned and chosen programs that will advance our Plan for Academic Enrichment. My letter to the Brown Community outlining the full range of actions that we are planning can be viewed at http://news.brown.edu/pressreleases/2008/11/economy.
During these challenging times, I am reminded of the strength, integrity, and character of the Brown community. We continue to attract the best, brightest and most intellectually adventurous minds in the world to College Hill. I am grateful to Tom Tisch and the Corporation, which has during this period been actively engaged in critical decision making, guided by its charge to keep the University strong, vibrant, and committed to excellence in teaching, research, and service. We entered this turbulent time stronger as a result of the generosity of our supporters. We are indebted to their generosity and the commitment of students, faculty, staff, alumni and families — all true stewards of Brown.
Sincerely,
Ruth J. Simmons