As the new fiscal year went into effect in July, so did the repercussions of financial woes that have plagued Guilford since the North Carolina General Assembly cut its financial aid program for colleges and universities across the state.

The economic downfall contributed to the shortfall of $2.45 million in financial aid money, which the college is spreading over two years.

During an Aug. 14 presentation to faculty and staff, Vice President for Finance Greg Bursavich announced that $1.6 million in budget reductions are being made this year.

In a June 8 budget update President and Professor of Political Science Kent Chabot said, “We are taking steps, to ensure that Guilford maintains its quality and affordability in the face of rising expenses, deep cuts in federal and state-funded financial aid, and a potential shortfall in enrollment income next year due to economic conditions.”

Despite all of Guilford’s efforts to keep the tuition the same, the budget committee came up with a 3 percent  average increase, which Bursavich said came after much deliberation.

“It was tough but the right decision,”

said Bursavich.

Recognizing the impact the financial aid cuts would have on students, Guilford devised a plan to raise over $1 million within the next two academic years to replace it.

Administrators have had to lay off some staff and may have to lay off more during the two-year period

Sophomore Eddie Praley, a business major, recently shared his thoughts about the budget cuts.

“I haven’t seen any dramatic effects besides paying an arm and a leg for tuition,” said Praley.

Some like senior Taylor Teodosio, a business major,  question how administrators could remodel Founders Hall while letting go of staff.

The money for the renovation was provided by a $3 million  gift from private donors  and was thus outside the regular budget stream.

Tom Palombo, athletic director and head men’s basketball coach, said that his department is dealing with the budget cuts by making economical equipment and travel purchases and buying items in bulk.

“We are trying our best to have the least direct impact on the students,” Palombo said.

Even though the worse case scenario seems daunting, Campus Ministry Coordinator Max Carter shares some words of encouragement on this issue.

“My constant mantra is that ‘we’ve been through worse,’” said Carter in an email interview.

“The Civil War; two different times when the Board of Trustees voted to close the school; the Great Depression; first-year enrollments in the 230s (not that long ago!). We’ve always managed to make it through.”

Whether students will be able to see the changes made and the effect that the budget had on campus is currently indeterminable.

At the end of the day, administrators assure the community they are making their decisions carefully and keeping the students in mind.

“It is all about the students,” said Bursavich.