Over Two-Thirds of Private Colleges Have Frozen Salaries

According to a June 2009 study, over two-thirds of private colleges are freezing salaries, and 80 percent of them are implementing the freezes institution-wide. Benefits are also under the gun: 53 percent of the private colleges surveyed reported that they are making cuts to benefits, such as the amount of money allocated to 401(k) and 403(b) plans, and the contributions and number of health insurance plans. The study, conducted by Yaffe & Company, surveyed 259 private colleges in 39 states.