The Associated Press

GEORGETOWN, Ky. - Georgetown College will attempt to cut about $2.5 million from next year's budget.

A soft economy and concerns about a possible war in Iraq have slowed fund-raising for the college and caused Georgetown to make what will be about a 7 percent cut in its budget, President William H. Crouch Jr. said. Crouch said the soft economy leads to less return on endowment investments.

"Our goal in this process, is to achieve these cuts without adversely affecting the educational experiences of our students," Crouch said.

"Having said that, these cuts are going to hurt the college community, because they will result in positions being eliminated."

Crouch said financial aid to students won't be affected.

Georgetown College, a private Baptist school, currently operates under a $36 million budget. The college has an enrollment of 1,290 full- and part-time undergraduate students and about 380 graduate-education students.