The higher learning institutions have also been hit hard by the economic crises which have enveloped the United States. As a result, many institutions are finding alternative ways on which to cut on their running cost so as to keep their schools going. Taking an example of the Arizona State the newly appointed governor Jan Brewer approved a bill meant to take away funds from three institutions found in that state according to reports by an Arizona newspaper. Back in the year 2008, there was an experience of a blanket of hiring freeze that affected almost every Tucson campus department .Also, the University has compiled many academic departments and is even thinking of closing down certain programs for some time. These changes scare many undergraduate from the campus. Many of these students are anxious that the projected changes will have an effect on their ability to finish their education on time. Some of these changes signify that some programs will cease being offered, which could denote staying longer in the colleges in order to finish their education.
Many students have expressed their discontent with the looming changes. Before the approval of the changes by the government, students from the three affected universities in the Arizona State held demonstrations on their campuses as well as at the State Capitol. Sadly, their pleas went on deaf years. They should nevertheless take heart as other students from various institutions are facing the same problems. Unfortunately, when budget there is a budget cut in education, students endure reason being many needed resources became unattainable. However, the budget cuts rarely, have an effect on athletes’ in institutions. At the Arizona University, they are thinking of closing some of the campus libraries and reducing the operating of the main library. Hence, students are unable to assess valuable information (Oecd, 2011).
The recent breakdown of many key financing institutions, general credit squeeze, and the big plunge in the stock prices have caused what is to many the worst economic crises since the 1930s Great Depression. This crisis has made and will continue having a great impact on the many economic sectors inclusive of the higher education level which accounts of about 3 percent of the Americas domestic produce. Most comments concerning the consequences of this economic crisis mostly on the higher education has focused mostly on the possibility of the drying up of the students loans. However the impact of the student’s abilities to continue with their learning will extend to their families abilities to use their home equities to pay for learning expenses. The economic crisis will also include extensive ramifications for various aspects of instituting financing including the pricing of the universities and colleges.