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At public college campuses across the state, budget cuts are halting construction, sparking layoffs and freezing hiring even as tuition and fees continue to rise.

But at private colleges and universities, the impact of the faltering economy is less clear.

Although leaders at area private colleges said they’ve weathered the storm better than some public institutions, they’re still preparing for the fallout of the ongoing recession.

So far, enrollment has not shown much of a drop-off at area private schools.

“We did wonder if we would see a dip in enrollment, but we haven’t,” said Elon University President Leo Lambert. “We still have 1,275 seats and more than 9,000 applications for them. Our early-decision applications are up, as well.”

Enrollment is booming at Elon’s law school, too, boosted by its accreditation last year.

At Guilford College, applications are up at least 5 percent with a record spring enrollment.

At Greensboro College, applications are up 43 percent since fall. And High Point University has seen its student body grow 22 percent in the past year.

Enrollment figures for Bennett College  were not available.

Even though enrollment and student interest remain strong, what’s less obvious is how long students or their families will be able to afford college.

“Unemployment is now up to 8.1 percent,” said Greensboro College President Craven Williams. “How many of the parents of our students have lost their jobs or been downsized? We’re anxious about how many of them are going to be able to afford to come back in the fall.”

Guilford College President Kent Chabotar said everyone is nervous about enrollment in the summer and fall semesters. Many private colleges have turned to alumni to help out as the schools face an unprecedented need for student aid.

“One of our major donors has provided $150,000 for what I call a 'war chest,’ ” Chabotar said. “It’s for students who are in a situation where they might not be able to come back. A few thousand here and some there — that kind of flexibility can make the difference in coming back or not coming back.”

Smaller schools such as Guilford College haven’t been as lucky.

“So many people make gifts of appreciated securities,” Williams said, referring to donations of stock that have increased in value since they were purchased. “But how many appreciated securities do you have right now?

“We still have people donating in smaller amounts,” he said, “but the big donations are way down.”

Even worse, the upheaval on Wall Street is playing havoc with colleges’ endowments. Prominent private colleges such as Harvard and Yale have lost billions of dollars in their investments, forcing those schools to cut spending dramatically. The picture isn’t much better here.

“We’re talking about a hit for 2010 of up to a third of our endowment,” Chabotar said. “Because we don’t have a very large endowment, that’s only about $3 million. That may not be a lot if you’re Harvard, but it’s a lot if you’re a Guilford College, an Elon or High Point University.”

That number is closer to $1 million at Greensboro College — but it’s still an amount they’re struggling to deal with.

“We’ve cut approximately 5 percent of our budget,” Williams said. “We haven’t had to lay anyone off, but we’re in a hiring freeze. We’re also delaying all unfunded construction and renovation projects. We aren’t borrowing money for anything.”

It’s much the same story at Guilford College, where Chabotar said freezing salaries has saved the school about $1 million. The college also got rid of 10 part-time faculty members and 10 vacant staff positions.

Budgeting conservatively allowed the school to do better than it expected during the past semester and to pay a one-time bonus to faculty members who are  weathering tough times.

Contact Joe Killian at 373-7023 or joe.killian@news-record.com