Colleges cut faculty as state funding dwindles

03/20/2013 | CBS MoneyWatch

Reduced state spending on higher education is forcing many public colleges and universities to trim staff and faculty to save money. A report by the Center on Budget and Policy Priorities revealed that only two states -- North Dakota and Wyoming -- have not slashed higher-education spending. Of the other states, 36 reduced spending by more than 20% with Arizona and New Hampshire cutting spending in half. "It sets a really dangerous trend," said the report's author, Phil Oliff.

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