With a slowing economy, many students nearing college are growing worried that loans will no longer be available and school will become unaffordable. Because of these increasing concerns, some colleges and universities are taking action in the face of a troubled economy.

The University of Texas at Austin, one of the largest universities in the country, is one such school.  President William Powers recently sent an e-mail to the UT community explaining what the fifth largest public university in the nation is doing to keep costs down for students in the sour economy. 

Here are some of the efforts he mentioned: 

• Cutting expenses by making smarter purchasing decisions and upgrading the campus electricity systems to make them more efficient
• Investing financial gifts from donors conservatively so they do not lose as much money in the troubled stock market Pushing a fundraising campaign, Campaign for Texas, in order to get donations to help improve the school and offer more to the students (Powers says even during the Great Depression, alumni were able to donate enough money to help build several major campus buildings that remain highly used today)
• Continuing to offer scholarships and make commitments to give financial aid (Tuition will still be covered for students whose families have income levels of less than $40,000 a year)
• Creating provisions for students whose families have encountered job losses or other economic hardships

While the thought of starting college during this recession is daunting, some schools, such as the University of Texas, are making strong efforts to keep the costs down and assist students in need. It remains a very affordable institution at $8,090–9,354 for Texas residents and $26,672–30,770 for non-residents, which is part of what makes it so popular. Have you heard of any other schools making efforts to help during this tough time?