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Univ. of Florida Says Endowment Lost $104M This Quarter

GAINESVILLE, Fla. (AP) - Add the University of Florida to the
list of places feeling the effects of a sagging economy.

Officials there say the school's endowment lost about $104
million so far in the first quarter of its fiscal year. That
translates to an 8.3 percent loss in its $1.25 billion endowment.

The financial meltdown is forcing colleges around the country to
tear up budget plans and prepare for a simultaneous hit to their
three major revenue sources - government funding, donations and
tuition.

At the same time, they're having to find more money for one of
their major budget items - financial aid - or risk seeing students
drop out.


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