As the looming recession creates increased need for financial aid, Northwestern administrators will have less, if any, money to give student groups through discretionary funds, Vice President for Student Affairs William Banis said.
"I won't have the kind of resources I've had in the past," Banis said.
Administrators usually have money left over from the previous school year that they are allowed to use as needed. Traditionally, some of this money is given to student groups that petition for extra funding. Candidates typically include Associated Student Government-funded heavyweights like Mayfest and many non-ASG-recognized groups that receive a large part of their budgets from administrative and academic offices.
But this year, the university has to tighten its belt in order to preserve financial aid, Banis said. These cuts in the school's overall budget trickle down to the budgets of individual administrative offices and academic departments, some of which are instrumental in funding certain student groups. This leaves administrators willing to dole out discretionary funds in the past unable to do so in the current economic climate.
"What's happening to the university is what's happening in society," said Eugene Sunshine, NU's senior vice president for business and finance. "The economy is poor. We're in a recession. Those responsible for money - whether student groups, administrators or professors - should be looking at what their resources are and should be careful."
Wednesday, Banis warned students of tough times to come during his bi-quarterly meeting with student leaders. He explained the monetary cushion from administrators will be significantly thinner for the next two to three years.
"It's not that we don't want to do it," he said. "We just have to look at what's essential."
This could be particularly significant for Mayfest, which normally receives a significant portion of its Dillo Day budget from administrators, according to an ASG funding guide. The idea is that if administrators give more money, Mayfest can bring a bigger headliner that will keep more students on the Lakefill and reduce excessive drinking, said Mayfest chairwoman Diana Richter. Last year, Banis helped cover security. This year he said he is uncertain what kind of contribution the Office of Student Affairs will be able to make.
2008 Woodie Awards
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Viewing Comments 1 - 4 of 8
Mike
posted 11/25/08 @ 2:04 AM CST
Is anyone else bothered by the fact that some students who attend this school--specifically those who attend without financial aid--will suffer as a result of more students needing financial aid?
I understand the need for financial aid, and I think that in some cases it's a noble program. (Continued…)
Margy
posted 11/25/08 @ 8:24 AM CST
Mike, it's not as though those of us on financial aid aren't making sacrifices as well. We participate in just as many extracurriculars as you do, and we will be feeling the same effects of the crunch on our activities. (Continued…)
Hey, I've got an idea!
posted 11/25/08 @ 1:32 PM CST
Here's a thought! Why don't reduce Henry Bienen's bloated multimillion dollar salary? He gets more money per year than almost any university president in the world. (Continued…)
LAG
posted 12/02/08 @ 2:32 PM CST
It seems to me the real point is that there is no reason for Northwestern to cut back on anything. Northwestern has an enormous multi-billion dollar endowment. (Continued…)
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