The first quarter of fiscal year 2008-2009 closed on September 30th, and the global economic downturn has already taken a hefty toll on Dartmouth’s endowment.

Over the span of three months, Dartmouth’s endowment fell by a whopping 6 percent, or $220 million, bringing one of the Ivy League’s poorer universities one step closer to the nexus of economic oblivion. However, given the current rate of decline, it’s going to take a small eternity for the College to dissipate its remaining $3.44 billion.

No need to panic yet, but the administration is readying some budget cuts that may or may not trickle down to affect students.

The Dartmouth reports:

In order to maintain a balanced budget, the College will not lean on large-scale tuition increases and will not try to identify new revenue sources but will instead focus on reducing expenses, Wright said in an interview with The Dartmouth. The Board will hold on to its core values, although it recognizes the need for a balanced budget in the long run.

That’s PR-speak for “How can we make Dartmouth less fun?”

But, fear not, students! Obamanomics is on its way, and no matter what that may bring, it's clear you'll lap it right up.