As Economy Slumps, Donations to Colleges Expected to Slow -

Tue, Jul 15, 2008

As the economy continues to be battered by rising energy costs, a credit crunch, and turbulence in the financial industry, a new forecasting tool is predicting that private giving to higher education may soon begin to suffer.

According to the Council for Advancement and Support of Education's Fundraising Index, philanthropic support for colleges and independent schools is estimated to grow 5.3 percent for the academic year that began July 1, down from the 7-percent average annual rate of growth for the last 20 years.

John Lippincott, the council's president, introduced the index and its initial results at the group'...