Jenkins announces voluntary pay cuts for University leaders to support student financial aid
Observer Staff Report | Monday, May 4, 2020
In order to increase funds towards student financial aid, University President Fr. John Jenkins announced a voluntary program where senior leaders at the University may elect to reduce their salaries as much as 20%, according to a press release from the University Monday.
The savings will contribute to the Student Emergency Relief Fund, which was created to assist students and their families who are struggling financially as a result of the pandemic.
“The University’s three executive officers, the deans, the vice presidents and leaders in the Athletics Department, including certain coaches, have been asked to reduce their salaries along a sliding scale of 5 percent to 20 percent for the highest compensated employees,” the press release said.
The special payroll deduction plan is scheduled to begin July 1 and continue to June 30, 2021.
As almost half of the University’s students receive financial aid, a third of the endowment’s spending distribution helps cover the cost of student tuition. Additional fundraising and more recently, utilizing savings produced by Notre Dame’s staff early retirement program also contribute to financial aid assistance.
“In this crisis, we must do everything we can to ensure that no accepted or current students fail to enroll or return because they don’t have the money,” Jenkins said.