Yale loses five billion dollars.

So Yale. After Harvard also has the second Nobeluni the United States acknowledged that the financial crisis quarter of their assets lost. Five billion dollars dissolved in global Monopoly on. Yale saves where it goes - such as the salaries of janitors.
  The financial setbacks are too enormous for them to hide. According to the Harvard University has also Yale University in the U.S. east coast acknowledged massive losses. A quarter of its assets Foundation, the University lost, it shrank by about five billion dollars. In the summer, at the end of the fiscal year, the university still sat on a fortune of 22 billion U.S. dollars - are now only 17 billion left.
Only? With their foundation assets is the university in New Haven, Connecticut, still ranks two of the richest universities in the United States, surpassed only by Harvard in neighboring Boston. The eternal rival Harvard at the end of June had more than 36 billion U.S. dollars exorbitant. But there also has suffered massive wealth. News Minus: somewhere between eight and has already admitted estimated 16 billion U.S. dollars in a tight half-year - that would be roughly the sum that Yale has now left.
Alone what those two major universities in crisis strudel with financial transactions have lost far exceed the assets of most other university in the United States. Accordingly therefore appeared contrite Yale President Richard C. Levin in a letter to the members of the university, which is also on the website of the university stands.
Universities usually keep silent about their ironclad quarter figures and give only her Kassensturz mid publicly known. But: "These unusual circumstances require a departure from the usual habits," writes Levin. By the end of October Investment Yales have lost 13.4 percent, but it was worth the forfeiture of property or from private equity investments are not included. It was "the best estimate of the assets at that time 17 billion U.S. dollars."
Caretakers, cooks, technicians must Darb
Because the Yale University has been highest paid investment strategists can create for themselves, were unprecedented gains in height has been accumulated. Is problematic for Yale: The University of contests so far, almost half of their spending with investment gains. This annual expenditure amounted to 2.7 billion U.S. dollars last.
In the coming year, predicts Uni-President Levin, Yale will be 100 million U.S. dollars are missing, five years later, even 300 million. Money, with which the university had planned, in the firm belief that it is using the exchange rate and asset ever goes upward.
In order to deal with the crisis, saves Yale, particularly among ordinary university employees who are not on the scientific staff count and already earn little. Janitor, technicians and canteen staff will be around five percent salary cut. Salary increases for university employees, there will be continued to give - they will only be limited to two per cent.
Save where it goes
Also meets Yale on the attitude brake. All new faculty positions must be provided by the respective chancellor or his deputy will be stamped. Make get approved for internal candidate preference. Works will not be deleted, but for one year suspended.
Overall, Yale is 69 percent of his foundation's assets in so-called "illiquid assets" for that reason, reported the British news magazine The Economist. " Such illiquid investments are usually hedge funds, corporate holdings and shares in real estate and real estate.

Architect of the financing model and master of the foundation's assets Yales is David Swensen. He drove the assets of the university since 1985 by then a billion dollars on a 22-fold. Swensen is a kind of investment guru, especially for long-term investments from foundations and other institutions.
The Swensen model interpreted many private universities in the U.S. seem to multiply as the master of their assets - not least Harvard, the question in the early nineties, the Harvard Management Company founded by the same path as Yale. In the global crisis now from both.

If the university is unfamiliar terrain.

Studying for many students is obviously - for migrant workers' children or not. They must often without the support of parents and bite through on your own a new world to conquer. Special programs give money, information, self-confidence.
  On the idea that they might not belong here, comes in the Dresden University of nobody. In knitting sweater, jeans and boots looks Gnerlich Maren, 27, exactly how a student presents. Nevertheless, she was beginning her studies just about everything hinzuschmeißen. "I felt so terribly misplaced, I constantly had the feeling to be wrong here," she remembers. "All around me appeared to me knowing and even much safer."

That the academic world of the young woman is so alien, lies in its origins: Gnerlich is a classic child workers. Her mother is unskilled, her father miners - and that her child in Dresden, political science and sociology student, they have until now not accepted. "Caught go to school and the school to make it was still okay. But why I like doing a study in which it is not clear immediately whether I have a job will have nobody in my family understood. Accordingly, there was enormous resistance. "
It had Gnerlich until everything is done, as the parents wanted: After graduating from high school she trained as a financial official. "But I soon noticed that nothing for me." But even with the decision to study was not anything better. "The World University knew I was not home and I had nobody that I could ask. How to write essays or speeches holds knew I was not," says Maren Gnerlich. Actually, they still wanted in the first semester chuck, "but then I durchgebissen."
Everything on your own
Today she sits together with Katrin te Poel beer in the basement cafeteria of Dresdner. Both have recently been a mentor for the program "Child Labor". Founded by the Gießen-American doctoral student Katja Urbatsch, wants "Child Labor" which help the first family in their study. And at home where nobody can say how a student loans application, or the first unit prepared.
Even Katrin te Poel, 24, has been reported as a mentor. Unlike Maren them in Gnerlich was their decision for the study of the parents supported. "But technically, they could help me of course not - my mother is a housewife, my father Maurer. How would the two because I should explain how such an enrollment work?"
At the beginning it was added to deal with many things not auszukennen and in contact with the teachers not so self-assured to be as many of their fellow students, the petite blond woman. She is studying for Vocational Teacher Educators studied and gets a scholarship. And she exudes when she tells that these inhibitions are long past. It has durchgeboxt - that gives self-confidence.
The parents are worried
Katrin te Poel is pleased that many details have to be fought. "Before the study, I have always worried me, as I have the financing. I do not know that I have the right to student loans had." Her parents are proud of their daughter, even if they are with their lives in Dresden, little can begin. "They're still very worried whether I will find a job. And of course at home, I tell little of what I do here content. This is just a different world," says the student.

Zakaria also Korte, 21, has a new world for themselves conquered. For three semesters he studied at Berlin's Humboldt University Law and describes himself as a "typical second-generation man," with a German mother and an Egyptian father. For half a year, he by the Friedrich-Ebert-Stiftung.
Near the SPD-Ebert-Foundation is one of the great German Begebtenförderungswerken. For a year it provides, as well as the liberal Naumann Foundation and the CSU close Seidel Foundation, a scholarship at trial, for which students can apply already. Also, the union close Böckler Foundation promotes in an "Action Education" since 2007 young people from families who are studying their children can not afford. And the Vodafone Foundation gives money to young migrants at private universities, so as to disadvantaged groups of society to support it.
"I will be viewed as the other star"
Korte has never expected sometime money gifted by a conveyor to get: "I always thought that something must be a genius or totally politically engaged." His Abi-cutting of 1.8 feels he is not as staggering, "the crème de la crème, I am not so yes." Until now he has inhibitions in the university or the seminars of the Foundation to say exactly where he comes from: "My mother is a housewife with six children, my father, taxi drivers, we live in Wedding. If I tell, I will be viewed as the another star. Many people from public education budgets have someone like me had never met. "
Korte laughs when he recounts. But his face makes it clear that in the past was not only funny, always anzurennen against stereotypes. It hurts when your own home by others is perceived as a place that you prefer to avoid.
FIRST AID FOR STUDENTENArbeiterkind.deDie Internet platform provides information on job prospects for graduates and opportunities to finance the study. There are tips on applying for internships and scholarships. In addition, local mentors and advice to the side. www.arbeiterkind.deStipendium on trial since many foundations offer scholarships to a short period of time for which students can apply already. Assuming the education, good performances and social commitment. The application process is shorter than for regular fellowships. Info: Ebert Stftung; Hanns Seidel Foundation, Friedrich Naumann Foundation scholarships for disadvantaged StudentenMit of the "Action Education" is the Böckler Foundation to financially disadvantaged students. Requirements are a full-right student loans, performance readiness and commitment. Information: "Action Education" The Fellows Program of the Vodafone Foundation funded the study at a private university and pays a monthly stipend of up to!
585 euros. This requires a migration background. Info: Vodafone Foundation
The most important thing is for scholarship on him is enough money to get to jobs without studying them. But he also benefited them in another way: "I'm much more confident and no longer automatically think that all the other twice as good as I do. I trust myself now, at the seminars to say something."
How Gnerlich and te Poel in Dresden wants Korte others who come from similar circumstances as he, help to find their way. In his Berlin neighborhood, he has initiated a project in which students on their ability to be informed.
"We want to show them that it also can create when you come from the Wedding," says Korte. "Many do not know that it is not so difficult is to get a scholarship - who believe that they will not succeed in life can be. And then I can say: Yes. And I know how it's done."

"I am now much more reasonable."

As an amateur musician, it has the nights around the ears beaten, today they go to bed early. Her daughter has the life of Carmen Gücker, 25, completely changed. That the wild days is over, regretted the Munich medical student did not.
  "Before I had a fairly irregular life. I did in Berlin in a WG Saxophonistin usual and was in a band. We have often late or were rehearsed at concerts. Most mornings, I only come home - my flatmate was on the way the university and I on the way to bed.
All this has changed since my friend and I have a half years ago have decided to get a child. Eight months ago our daughter Lena came to the world we now live threes in Munich. My friend had a job offer. I'm here with him withdrawn, so our family grow up together.
Why I'm in the middle of the course wanted to get a child? I had the feeling that everything seen to have experienced what I wanted. I thought to myself: 'Everything I still want to experience, is also with child. " Moreover, the timing gave me good fit: I have ten semesters medicine behind me and I'm apparently free. After the baby break, I must just make my Practical year, then I am ready.
Dear pregnant during their studies
In the profession, it would be difficult, to take a break and children. As a doctor you have a lot of overtime and feels the employer and colleagues committed. In the study'm just committed myself. As a student I have less and can afford my classes and homework-free categories.

The pregnancy has even brought benefits to me: When I intern in the gynecology was the women have me on the station seriously as my fellow students. For the patients, I was not only a medical student, but above all an expectant mother. That is why they have trusted me.
A month before Lena's birth, I interrupted my studies. At the moment I enjoy it to be at home and spend time with my daughter to spend. But I have also afraid to miss the connection.
Hardly kindergarten places in Munich
Once we have found a childcare, I will return to the university. Unfortunately, there are not many in Munich crèche places, and one day we can not afford. Perhaps I must therefore be longer than planned to wait until I can continue studying.
By Lena has totally changed my life. I have become much more reasonable: I go to sleep earlier and nutritional me healthier. Moreover, I do not drink more alcohol - that was a pretty big step. Sometimes I feel quite strange if I at concerts or parties'm the only one who does not drink. Then I notice: I am not more.
Nevertheless, I feel still young and enterprising. I guess Lena often and was with her in the summer at the Fête de la Musique. Previously, I have to concerts only to the music of thought - now I think first and foremost to my daughter. "
At blogsView ONLINE tell this weeks Four students why they have decided during their studies to get a child - and how it everyday between crib and auditorium cope.
Monday: Study with a child, now or never

"With child I run right through."

Closing with the funny long-term studies - in the middle of the semester abroad learned Julia Kraushaar, 26, that she is pregnant. This provides an energy boost. Now is the ninth month in Berlin and wants to continue their studies after a baby break swiftly bring to an end.
  "When I found nine months before that, I'm pregnant, I was watching semester abroad in Paris. My friend and I have then said: 'We are creating das.' We are both nearing our thesis and could have no better time for family formation imagine.
I am now 26, and all tell me that this is the best age to mother them. As a young man can be much mitgeben a child - is important, however, that you already have a certain maturity. Martin is the first man with whom I can imagine to start a family. We have been talking about last year, accompanied a child to get.
In the first six months after the birth of my daughter, I will postpone my studies, because in order for them to be. At the time Martin will write his dissertation and his tests do. If I had stopped then, he will take care of the child, so I can finish studying.
Now I have concrete plan
With his support, I think that my studies with only one year delay will bring to an end. When I get to work once their own wishes, can I have my child in the crib type.

A child to get motivated me. After studying, I will not fall this big hole, no orientation to have - I am so to take care of my daughter. Also, I want my studies quickly to end the occupation and running properly, so good I can provide for them. I notice that the pregnancy incredible energy in releasing me, my life on the series to get.
I am studying already 14 semester and am therefore as a long-term student designate. Especially the long-term students, it is often difficult to come to the conclusion, especially in my subjects, French and German literature. To get a child, forcing one hand, no time to lose and concrete plan.
We are among the last master's students
Without the financial support of our parents would, however, the situation is quite different. Students, on their own job needs to have it much harder. Also, my friend and I the advantage of the last Masters students to belong. The changeover to the Bachelor's and Master's courses for young families is bad, because the schedules are so tightly organized.
The biggest problem with the family theme, however, is our society: in Germany there is an incredibly inhibitions, the child Available early, because you then as uncaring mother insult must leave. With these insights are old-fashioned modern professions and lifestyles are simply not compatible.
Our family can I find very emancipated, because my friend and I divide our work. It would be nice if we could play a pioneer role. "
At blogsView ONLINE tell this weeks Four students why they have decided during their studies to get a child - and how it everyday between crib and auditorium cope.
Monday: Study with a child, now or never