Richard Rubsamen, Sierra Nevada College President Quits To Save Money

The president of Sierra Nevada College quit on Thursday after realizing the college could not afford to compensate him.

Richard Rubsamen will step down as president . The current provost will assume the president's spot.

"I was tasked by the board with planning for financial sustainability in order to (ensure) the long term health of the college," Rubsamen said in a statement printed in Inside Higher Ed "It was clear to me where reductions had to occur. While the idea of leaving the college is very difficult, it is the right thing to do. I need to lead by example and practice what we teach."

`"Looking at the current economy, colleges across the nation... are making cuts that are affecting the students," Julene Hunter, communications director for the college told the Tahoe Bonanza. "We're doing the exact opposite. There will be no cuts to the faculty ... Everything we could do to protect the students was done.