Cash-Strapped Yale Slashes Capital Spending By 60%

Yale announced last week that it was cutting its budget by $150 million.

Now they’ve decided to cut another $100 million from their budget, reducing capital spending by 60%, according to Bloomberg.

Yale’s endowment took a big hit during the financial crisis, dropping from $22.9 billion in 2008 to $16.3 billion last June.

The school even said it was lowering building temperatures to 68 degrees to save money.

No wonder Yale made this potentially embarrassing low-budget admissions video.

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