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Once Radcliffe College MA, established in 1879 as an alternative for women who were refused admission to Harvard University, was a proud place, one of the Seven Sisters, elite Northeastern colleges that admitted only women.
Now what's left of Radcliffe is so financially strapped that on July 10 it reduced the workforce by one-quarter, notifying 38 employees that they were out of work.
In 1999, Radcliffe "merged" with Harvard, being downgraded to The Institute for Advanced Study, doling out grants to researchers. At the time, Harvard agreed to double Radcliffe's endowment to $300 million and provide 14 years' worth of additional transfer payments, which ranged from $3 million to $4.5 million a year. ...