$1 Million Deficit Faces Princeton, Yale for 1954-55

The annual budgets of both Princeton and Yale will show a deficit of over one million dollars for the 1954-55 academic year unless the loss can be offset by substantial alumni contributions.

Princeton expects to have the largest operating expense in its history, 13 million dollars. It will take an alumni contribution of one million dollars plus the surplus from last year's successful fund drive to balance the expected $1,240,000 deficit.

In eight years the Princeton budge has risen seven and one-half million dollars; in 1946 the school's budge was five an done-half million. Almost 75 percent of the present budget is devoted to teaching and research expenses. The remaining 25 percent is split between upkeep, athletic expenses, and scholarship funds.

At present the Yale Corporation and Provost Edgar S. Furniss are investigating methods of increasing faculty salaries despite an expected one million dollar deficit. Yale would like to raise the faculty budget some $750,000 but is reluctant to boost tuition in order to finance it.

President A. Whitney Griswold has said, however, that "faculty salaries and tuition go hand in hand, and every Yale parent must expect to pay for the quality of instruction that his or her son receives here."

The Yale Corporation is also considering raising the amount of scholarship aid. A boost could not be supported by the present policy of scholarship financing from endowment income and would necessarily raise the deficit.

Both colleges raised the tuition $150 in 1952. The Princeton fee rose from $600 to $750, while Yale's composite room, board and tuition was boosted to $1,600 from $1,450.