Colleges respond to economic crisis

Credit crunch cancels construction

The University of Massachusetts at Lowell scuttled plans for a $90 million science center, touted as a research powerhouse for emerging technologies, because the school was unable to secure funding from choked credit markets.

"Unless something changes, we're not going to be able to go forward," Martin Meehan, the university's chancellor, seen at left, said. "These are tough economic times, and at this point we can't commit to the project."

Credit crunch cancels construction The University of Massachusetts at Lowell scuttled plans for a $90 million science center , touted as a research powerhouse for emerging technologies, because the school was unable to secure funding from choked credit markets. 'Unless something changes, we're not going to be able to go forward,' Martin Meehan, the university's chancellor, seen at left, said. 'These are tough economic times, and at this point we can't commit to the project.'
Globe staff/Mark Wilson