Today Amy Gutmann sent out a year-end economic update email to all of Penn’s undergrads. As per usual, it’s a bit lengthy, so here are the highlights:
- The university has saved $56.2 million this year, about $12 million of which has been saved since Gutmann’s last email in August.
- Penn’s endowment lost the least proportionally to its peers.
- Spending on need-based undergraduate grants increased by $20 million, or 19%.
- The tuition increase for 2009-10 was the lowest it has been in 41 years.
There is also mention of all the cool stuff Penn is building (Penn Park, the new nanotech building) and the cool stuff Penn profs are doing (did you know that researchers have been awarded $163.4 million for 303 projects… and counting?). Plus, Marshall Scholar Josh Bennett and Rhodes Scholar Sarah-Jane Littleford get shoutouts.
See the email in full after the jump. Read the rest of this entry »