Mike Westfall calls it the second wave of bad financial news on campus. First came a dramatic drop in university endowments. Now students and their parents are learning those same endowments are short of money for next year’s college scholarships.
It’s a national issue, but small regional universities with less than epic endowments are feeling the pain most sharply, said Westfall, vice president for university advancement at Eastern Washington University in Cheney, near Spokane.