Now, charges are swirling over Stevens Institute of Technology in Hoboken, N.J. The state attorney general has sued the institute and its president, Harold J. Raveché, accusing him of plundering the endowment and receiving $1.8 million in illegal low-interest loans for vacation homes, with half of them later forgiven.    more …

The Associated Press
October 20, 2009 (AP)
By JUSTIN POPE AP Education Writer

With the economy struggling, parents and students dared to hope this year might offer a break from rising college costs. Instead, they got another sharp increase.
Photo: College Tuition Cost Rising Again This Fall: College tuition up again; students suffer from state budget cuts, endowment declines
Average college tuition prices up sharply again this fall.
(ABC News Photo Illustration)

Average tuition at four-year public colleges in the U.S. climbed 6.5 percent, or $429, to $7,020 this fall as schools apologetically passed on much of their own financial problems, according to an annual report from the College Board, released Tuesday. At private colleges, tuition rose 4.4 percent, or $1,096, to $26,273.

“Every sector of the American economy is under stress and higher education is no exception,” said Terry Hartle, senior vice president of the American Council on Education. “It’s regrettable, and it’s yet another piece of disappointing economic news that affects families.”

The price increases came despite painful cost-cutting by colleges on everything from faculty to cafeterias and sports travel. And as usual, the rise in tuition outstripped the overall inflation rate.   more …