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It is known to be a bad year so far with the recession and all. Every aspect of the global economy has been affected. Nothing is completely closing down but there is a definite slowdown.

Like every sphere education and learning has been hit by recession too. It is unavoidable. Retirement plans or university funds are being up held as the corporate houses do not have much to spare either. The heat is being felt every where. For example the Reed College, a prestigious private institution in Portland has been reconsidering the admission applications they have been receiving.

This college known for its excellent teaching capabilities and reputation has had to cut down on the number of applicants. This is because; the college doesn’t have the funds to admit students who require financial aid. They have had to reconsider applications and weed out the maximum number of students who required money and are keeping those who can pay the whole fees.
The authorities at the college stated that it was the first time they were forced to do it but there is no other way out. They do not have enough funds to support these students. Otherwise they would never keep away the deserving students.

This is a sad situation but colleges and universities across America are facing such issues. Everyone is grappling with the situation. According to an aspiring Reed student, she will have to now apply to some other university because she did not have enough funds to pay her fees.
Although there are measures being taken to solve the money crunch issue, it is going to be a while till things get solved completely. Such problems are being faced by teachers too. Either they are being laid off or they are facing major pay cuts.