Budget Slash Faces School Of Education

The Graduate School of Education may have to curtail its budget much as $400,000 for next year unless it is able to find new sources of income, Francis Keppel '38, Dean of the school, reported yesterday.

The school had raised almost a million dollars for permanent endowment within the past two years, he announced, but it must still remain heavily dependent on temporary grants to balance its budget.

Grants amounting to $400,000 from several foundations will cease this June 30, he said. So far only a fraction of the funds necessary to maintain the school's present budget are now in sight.

Little Chance of Help

"It's going to be a question of getting the amount in permanent endowment by then or else finding more temporary money," he stated. "Otherwise we shall have to reduce the budget."

Keppel thought there was little chance the permanent endowment fund, which advanced a little over $100,000 in 1954, would be able to make up the expected loss by June.

The need for new funds, indicated the School's heavy reliance upon gifts and foundation grants, rather than permanent endowment, to meet its operating expenses. Though most grants are given for specific purposes, they do free unrestricted income from tuition and endowment.

At present, the School must attract five million dollars to its permanent endowment fund before it will be assured of permanent economic stability.