Ivy League Cuts: What $50K in Tuition Buys

The Ivy League consists of not only some of the most competitive colleges in the United States, but also some of the wealthiest. At the same time, the price tag of an Ivy League education can be quite expensive, with the costs of tuition, room and board, etc. totaling almost $50,000. Yet, in these uncertain economic times, as their endowments shrink, even the Ivy League schools are cutting back on certain projects and initiatives. Take Princeton University, for instance:

Princeton: Fewer courses, building and renovations put on hold

• 2008 Endowment: $16.3 billion
• Change since June 30: down 11% through Oct. 31

As part of its plan to cut $82 million from its budget for the upcoming academic year, Princeton is bringing in fewer visiting faculty members -- and offering fewer of the courses they teach. The school is also cutting its budget for its 10-year building plan by $300 million, resulting in delays in the renovation of Green Hall, the humanities and social sciences building, and the groundbreaking on the new neuroscience and psychology buildings.

Students with the late-night munchies will have to forget about Princeton's University Store, which is no longer open 24 hours (it closes between 3 a.m. and 8 a.m. now). But they don't have to worry about getting around: the school's newly-upgraded shuttle bus system is still running as planned.

Tuition and financial aid: In January the university proposed a 2.9% increase in undergraduate tuition and room and board, the lowest since 1966, to $47,020. Princeton's undergraduate scholarship budget will expand by 13% to $104 million to help offset the tuition increase.

Check out the full article to see what else is being cut back in the Ivy League.