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May 3, 2009

University of Washington to borrow from private financial model

Nick Eaton:

For several months, University of Washington officials had been mum about it. As the state Legislature got closer to slashing UW funding by one quarter, administrators started dropping hints.

UW President Mark Emmert and members of the Board of Regents had been asking themselves, "Is this the privatization of the university?"

This week, Emmert finally said it publicly, in a letter he sent to the UW community: The University of Washington will need to "change its fundamental financial model."

So, what does that mean?

"When the education is less subsidized by the state, then universities have to be more market-oriented," Emmert told seattlepi.com. "The university will have to shift to a much more market-driven model than it has in the past."

Posted by Jim Zellmer at May 3, 2009 1:01 AM
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