Some mixed news on the higher education front today. To start off, salaries for college and university heads continue to increase despite cuts elsewhere. Suffolk University President David Sargent received a $2.8 million compensation package last year, the most any president received. According to the annual survey by The Chronicle of Higher Education, 148 college and university heads received salaries over $500,000 last year. Public school salaries only trailed Private's by $100,000, the lowest it's ever been despite many public school clamoring for funds for expected cuts. Senator Charles Grassley of Iowa, a vocal critic of higher education's financial excesses, says that in dire economic times "apparently belt-tightening is for families and students, not university presidents."

Meanwhile, the AP reports that more schools could close shop in the coming years. While 76 schools have billion dollar-plus endowments, one-third of the 4400 colleges in America have endowments less than $50 million. Some schools have little or no savings at all. Cascade College, a small Christian college in Oregon, is the latest school to fail. With only 280 students and $4 million in debt, it will be forced to close at the end of this year. Schools with limited applicant pools, like Christian Colleges and Historically Black Schools, may weather the toughest storm.