University endowments nationwide have plunged an average of 23 percent since last July, the worst drop since the 1970s, according to the National Association of College and University Business Officers.

State subsidies for higher education are being slashed drastically as many states have severe budget deficits.

The State of California has a $23 billion shortfall, while nearly every other state is trimming budgets, with the big-ticket item of university subsidies being near the top of their lists.

Tuition rates are being increased all over the country. The University of California (Cal-Berkeley and UCLA being the two largest campuses) regents recently passed a revolting 23 percent increase in tuition in response t...

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