News Column

IU news in brief: Russian 'megagrant,' growth in nonprofit sector, student loans drop

February 22, 2014

By Jon Blau, Herald-Times, Bloomington, Ind.



Feb. 22--IU math professor gets Russian 'megagrant'

An Indiana University math professor has been awarded a $2.7 million from his native Russia to establish a new laboratory in the country.

Vladimir Touraev, who received one of the 42 "megagrants" Russia awarded to scientists, will set up a mathematical lab based in Chelyabinsk, Russia, at Chelyabinsk State University. He will have about 20 students.

The funding will allow his lab to operate through 2016 and his funding could be renewed for an additional two years. Touraev will continue to serve as the Boucher Professor of Mathematics at IU and will spend his summers in Russia, according to the university.

Report shows growth in nonprofit sector

In the face of two recessions, the state's nonprofit sector grew every year from 1995 to 2011, driven mainly by health care and education industries, according to a report out of Indiana University.

On the other hand, three smaller industries -- arts, entertainment and recreation, social assistance and membership-based organizations -- all saw reductions in payroll during the "Great Recession" of 2008-09. But nonprofit employment and payroll in Indiana grew, based on large increases in employment in education, 56 percent, and health care, 36 percent. Payroll also increased -- 77 percent for education nonprofits and 65 percent for health care organizations.

Kirsten Gronbjerg, a professor from IU's School of Public and Environmental Affairs, was the lead author on the report, titled "Recessions and Indiana's Nonprofit Employment."

While it revealed certain nonprofit sectors gained during the recession, the study also showed there were "divergent trends" within subcategories because of evolving government funding interests.

For example, from 2007 to 2011, nonprofit colleges and universities grew in both employment and payroll, but nonprofit junior colleges decreased by about 40 percent in both categories.

Students taking out fewer loans

IU students took out fewer loans to pay for school this year, according to Indiana University. At seven IU campuses, the number of undergraduates who took out federal loans dropped 12 percent from the 2012-13 school year. The money students borrowed also fell 12 percent.

On Bloomington's campus, there were 18,982 students borrowing money during 2013-14, an 11.8 percent drop; they took out a combined $73.8 million in loans. The most substantial decreases came at IU Northwest and IU South Bend, where students borrowed 27 and 20 percent less this school year. Those two campuses account for more than $28 million in loans.

IU created an Office of Financial Literacy in 2012, but total institutional gift aid to undergraduates also doubled in the past five years, reaching over $140 million.

___

(c)2014 the Herald-Times (Bloomington, Ind.)

Visit the Herald-Times (Bloomington, Ind.) at www.heraldtimesonline.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Herald-Times (Bloomington, IN)


Story Tools