President Chopp addresses impact of economic downturn: Comments

Comment on "President Chopp addresses impact of economic downturn"

Tue, 18 Nov 2008 20:48:25 -0500

President Chopp,
Thank-you for taking the time to keep your constituency informed. Our son is Class of '10, and he has a sister at Georgetown Class of '11 and a sister at Marquette Class of '12.

Of those 3 fine schools, we are most impressed with Colgate's Administration and Faculty. You, and those who work for you, treat our son and his parents with respect, friendliness, and a depth of human understanding and interaction that sets Colgate far above those other schools. Taking the time to pen this is just one example.

We feel tremendous stress as we look at national and global economics with a realistic understanding of the impact both will have on this families ability to finance college. While we cannot forecast the economic future, it is a partial relief of that stress to have a dialogue started, and information flowing. Thank You.

Craig and Elizabeth Tucker

- Craig Tucker

Comment on "President Chopp addresses impact of economic downturn"

Wed, 12 Nov 2008 18:06:28 -0500

Dear President Chopp,

Thank you for sharing your concerns and inviting others to share thoughts.

As former Director of the Budget at Colgate, your leadership in this matter is especially appreciated. Your call for collaboration is encouraging.

I would hope that you can provide incentives for those who find creative and collaborative solutions. Some will fear that flexibility in their domain of management will be depleted and irreplaceable. Those closest to programs will be most able to identify strategies for reducing costs. Preferably program impact will be minimized.

Those who most can "afford" reductions often are least cooperative while those who can ill-afford reductions may offer "phantom" reductions that are unattainable. Finding a good balance of realistic and workable reductions requires that they be done in the context of University-wide priorities.

Because Colgate has worked hard to plan and think strategically, Colgate will no doubt weather the storm better than many of it its counterparts in higher education. Dire cut-backs will be minimal and smart mini-strategies have time needed to work through without desperate moves.

Good luck, and may your team of managers and leaders exhibit the spirit that has distinguished Colgate as a smaller institution that has learned well the positive benefits of doing much more than expected with limited resources. Each dollar of Colgate support thus has much greater impact than a dollar of support for other less well-managed institutions.

Truly yours,

Richard Heck MA'69

- Richard Heck MA '69

Comment on "President Chopp addresses impact of economic downturn"

Thu, 23 Oct 2008 13:13:52 -0500

Mark,

We are aware of the impact the economic downturn could have on many families who are looking at Colgate and other leading universities and colleges.

As President Chopp pointed out, each of Colgate's principal sources of operating budget revenue (tuition, room and board, endowment support, and annual fund gifts) are under pressure and those resources are less predictable than in years past.

But the university's financial foundation remains strong, and we remain committed to meet the demonstrated need of our students from the time they are admitted to the time they graduate.

How the economic downturn will specifically affect tuition levels is just too difficult to predict right now. The economic news changes daily, and we must have time to factor in the significant efforts we are making to alleviate budget pressures.

I wish I could be more definitive, but please be assured that we are very mindful of the impact the economic downturn may have on our students and their families.

Best,
David Hale
Vice president for finance and administration

- David Hale

Comment on "President Chopp addresses impact of economic downturn"

Wed, 22 Oct 2008 13:40:20 -0500

Well said President Chopp. The community, our residents and businesses appreciate your confidence- as we rely deeply on your continued success. Colgate is our best asset, a great supporter of our village and our businesses. As goes the University- so goes our village. Controlling costs are important, but remembering to support local businesses is also more important than ever.

- scott truett

Comment on "President Chopp addresses impact of economic downturn"

Wed, 22 Oct 2008 00:35:10 -0500

President Chopp,

I applaud your effort to be out in front with communication.

I am the father of a prospective student for entrance in the class of 2013.

Your letter discusses very solid and prudent fiscal initiatives, which the world will do well to mimic. We are headed for some very very rough times ahead.

Can you offer any counsel to those of us who are interested in attendance (I recognize Colgate's strict admission guidelines however I believe my daughter will qualify) with relevance to historically increasing tuition costs ? I am unsure how to interpret your letter on this subject.

Your thoughts are greatly appreciated.

Sincerely,

Mark Ricca

- Mark Ricca