Economy

As income inequality has increased in the United States over the last decade, so too has the gap between rich and poor colleges and universities.

The net assets of the University of South Alabama Foundation increased by more than $34.8 million between the 2010 and 2011 fiscal year, foundation officials said Thursday.

In what has become an annual occurrence, the state Board of Regents Tuesday approved budget reduction plans that, if enacted, would give college students fewer professors and courses to choose from and bigger class sizes.

The number of borrowers defaulting on federal student loans has risen substantially, highlighting concerns that rising college costs, low graduation rates and poor job prospects are getting more and more students over their heads in debt.

A slight bump in state appropriations plus higher tuition and fees helped increase Auburn University's budget for fiscal 2012 by $32 million to almost $970 million.

The University of North Carolina system cut more than 3,000 filled jobs because of spending reductions required by the General Assembly in this year's budget, leading to larger class sizes, curtailed services and fewer instructors and administrators, according to a system report released Thursday.

The vice chancellor of Louisiana State University's Health Sciences Center recently took a two-week retirement before returning to his old job on an interim basis, a move that netted him a nearly $20,000 monthly pension on top of a $211,000 annual salary.

The state of Central Michigan University is indeed strong, according to President George Ross.

It recently was reported the erstwhile Minnesota State College and University System chancellor was getting a $50,000 bonus for work he did in his final year as the head of the system. That was the maximum that could be given under his contract.

Cash woes, loss of accreditation doom Atlantic Union