Sluggish economy hurts college endowments - WALB.com, Albany News, Weather, Sports

Sluggish economy hurts college endowments

January 21, 2003

Valdosta - A poor economy is taking its toll on South Georgia colleges. Valdosta State University has seen a loss in it's endowment funds.

"The investments we have made over the past 10 years have gone down in value as the stock market has seen a steep fall," said Wayne Edwards, of the VSU Foundation.

But even with those losses, VSU has managed to see an overall increase in endowments this year . Their fund recently reached $10 million. "Lately, we've received many donations, and enough that regardless of the stock market, our endowment fund is stable and actually larger than usual," said Edwards.

Endowments are a vital part of a college's livelihood, funding everything from scholarships to the hiring of new faculty.

"They are extremely important," said Edwards. "Many people think colleges and universities are state funded, but they're also partially funded by endowments," said Edwards.

And even with the college's minor losses, Edwards feels confident the market will soon improve and VSU's investments will pay off.

posted at 2:00 by ashley.harper@walb.com