Business Services Industry
New Jersey Governor Cuts 5 Percent from College Aid.
Knight Ridder/Tribune Business News, January, 2002
By Jeff Pillets, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Jan. 23--Governor McGreevey ordered an immediate 5 percent cut in aid to state colleges and universities Tuesday, a move that some said would inevitably lead to higher tuition in the fall.
"We must all make sacrifices to ensure the fiscal integrity of the state," said McGreevey after meeting in Trenton with the presidents of all 12 state universities. "Higher education must not be exempt."
The cut is expected to save the state $65 million at a time when McGreevey is struggling to fill a $2.8 billion projected shortfall in the budget. He has already frozen discretionary spending and ordered all state departments to cut their budgets by 5 percent by the end...
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