Question

because it receives a substantial portion of its funding from state legislatures, which industry was hit particularly hard due to the recession that began in late 2007?

Answer 1

Public universities were particularly hard-struck by the recession that started in late 2007 since a large chunk of their funding comes from state legislatures.

Public universities: What are they?

How they are supported is the key distinction between public and private organizations. While private universities are mostly supported by their own endowment money and students' tuition fees, public schools are primarily subsidized by the state governments of each individual state. Individual donors may also make gifts to private institutions, perhaps in exchange for having structures named after them.

(Donations are also given to public colleges.) The price of enrollment is yet another significant distinction between public and private institutions. State governments heavily subsidize public universities, allowing them to offer students lower tuition costs. On the grounds that their taxes support state governments, in-state residents are given preferential tuition rates at public universities.

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