Three Schools Hit Hard By Crunch
Dean Larry Kramer is quoted in The Stanford Daily in an article about how the Law School, School of Earth Sciences and the Graduate School of Business (GSB) are dealing with the budget crunch:
Of Stanford’s seven academic schools, those that rely the most heavily on endowment funding — including Law, Earth Sciences and the Graduate School of Business (GSB) — have been particularly hard hit. The three have also had to adjust the course of their medium-term strategic plans earlier than they had expected.
In an email to The Daily, Law School Dean Larry Kramer said that efforts had been made, as a result of these changes, to make cuts throughout the school rather than walk back or sacrifice new initiatives.
“In making cuts, we sought ways to trim new growth without killing the plants,” Kramer said. “We worked very hard to spread our budget cuts across the school and program so that everyone in our community is bearing a portion.”
Kramer added that special effort was made to direct cuts away from law students.
“We put a few areas off limits, like financial aid and loan forgiveness, and we tried to minimize cuts in areas that affect students directly,” he said.
In his email, Kramer also expressed confidence that the cuts had not deeply affected and would not impede upon the main goals of the school’s strategic transition.
“The economic downturn has no effect on our overall strategy of integrating the Law School into the University, making it easier for law students to study with faculty and students in other schools and departments, making it easier for faculty and students from other departments to do things at the Law School, etc.,” Kramer said.
He added, however, that the cuts have been an opportunity for reflection.
“We did our strategic rethinking several years ago and are now working within a reset budget to ensure our ability to meet those goals,” Kramer said. “At the same time, as is often the case, the need to reset budget priorities has led us to some new ideas about how to do so.”