We are trying to make up these other elements by gaining cost efficiencies through our reengineering process and through overt fund-raising activities to better support graduate education.
Charles M. VestOn the other hand, it is not fair to say that changes in federal policy have caused our tuition to rise faster. Every economic argument imaginable would indicate that we should raise tuition at a faster rate than we do.
Charles M. VestNonetheless, the research budgets of the Department of Defense are under enormous stress-and they are extremely important because they support more than 40 percent of all federal funding for engineering schools across the country. So the threat was and is real.
Charles M. VestAgency by agency, we frequently have lost a bit of ground, at least to inflation-but had it not been for the efforts we've made to educate people about the importance of science, technology and advanced education, those predictions very well might have come true.
Charles M. Vest