Posted on 01/24/2008 9:37:39 AM PST by Disturbin
Paced by Harvard University's staggering $34 billion stockpile, 76 colleges now boast endowments over $1 billion after robust returns on their investments over the past year, according to an annual study being released today.
Harvard's endowment rose by nearly $6 billion over the past year, a nearly 20 percent increase. Yale University's endowment, the nation's second largest, rose to $22.5 billion, a 25 percent increase.
Stanford University, Princeton University, and the University of Texas system rounded out the top five.
Among colleges with endowments greater than $1 billion, the median one-year return was 21 percent. Nationally, the median return was 17.2 percent, the highest since 1998.
(Excerpt) Read more at boston.com ...
MIT grad here; they sure act they’re starved for money.
I get more calls and letters from them than the RNC.
One thing about the Institute; technical education costs a lot more than a liberal arts one. Equipping, maintaining and running science and engineering labs costs quite a bit of money. Not that I pretend to be neutral on the topic - I’m class of ‘74 from the Institute.
How many of us alumnoids are there on here, anyway?
Can I get a free PhD?
windfall endowment tax
Some companies will give equipment to these prestigious schools.
I had a teacher who claimed that IBM gave their computer to Harvard. It was when IBM switched from WATFOR to WATV. And the old Fortran code needed to be revised to be compiled under the new language.
The way I heard it, Harvard was satisfied with what they had and didn’t want the hassle. They were informed that IBM would not provide support for the old system at all but would give them the new computer. Sure helps bragging rights to a handful of customers to tell them that Harvard has one.
Running a big school like that costs well into the multiple hundreds of millions of dollars per year...
Not on the back end when its in the endowment... but before it gets repatriated.
Not sure.
The MIT student body I recall was a conservative oasis in the cesspool of liberalism that is Cambridge/Boston (along with (maybe) the BU MBA guys I would drink with) so I would think more than a few.
My son went to RIT and it was $23K/year 11 years ago. No clue what it is now, but we get calls all the time as well.
Then why does it cost so much to go there?............
Alumnoids?......If you are an Aggie, are you a Steeroid?.......
Great point! Nobody asks why the government is still sending these grants when the universities are awash with tax payer money from before. Unfortunately that kind of money makes universities very powerful lobbyists of government, and what politician is going to go against such power? Unfortunately the media is not interested in blowing open that scandal.
At 4% annual growth, the 34 billion nets one billion, three hundred sixty million dollars. At that rate, they should be able to fund the school on a tuition-free basis.
Maybe because people go there to learn, not to be political activists. You blow off steam in creative and intelligent ways, like turning your tallest building into a giant VU meter for a concert.
$34 billion, and yet so little wisdom.
Which is why universities (and especially the more prestigious) are dropping such courses as fast as they can get away with it. I'd make a small wager that actual lab class hours have dropped drastically since you were there.
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