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Harvard Has $31.7B Tax-Exempt EndowmentóBut Still Got $5.6M in Federal Student Loans and Grants
CNSNews ^

Posted on 04/30/2012 4:49:41 PM PDT by Sub-Driver

Harvard Has $31.7B Tax-Exempt Endowment—But Still Got $5.6M in Federal Student Loans and Grants By Terence P. Jeffrey April 30, 2012

(CNSNews.com) - In fiscal year 2011, Harvard University’s tax-exempt endowment jumped in value by about $4.17 billion, rising from $27,557,404,000 to $31,728,080,000--but that did not stop Harvard from collecting tuition and fees derived from federal grants and student loans that U.S. taxpayers provided to Harvard undergraduates.

Other universities with major endowments--including Yale and Princeton (from which the author of this article graduated)--also saw massive increases in their endowments and they also benefited from their students paying tuition and fees with federal grants and loans.

In the 2009-2010 school year, according to the U.S. Department of Education, Harvard undergraduates received $4,093,140 in federal Pell Grants and $1,467,017 in federal student loans.

This total of $5,560,157 in grants and loans that federal taxpayers provided to Harvard undergraduates in the 2009-2010 school year equaled only about 0.13 percent of the $4.17 billion that Harvard’s endowment increased last year.

Had Harvard settled for an increase in its endowment of only $4,165,115,843--instead of $4,170,676,000--it could have covered the entire cost of all the federal loans and grants that the taxpayers provided to its students in the 2009-2010 school year.

In that case, Harvard’s endowment would have increased from $27,557,404,000 to only $31,722,519,843—instead of the full $31,728,080,000 it achieved.

(Excerpt) Read more at cnsnews.com ...


TOPICS: Culture/Society; News/Current Events
KEYWORDS:
Big Education.....
1 posted on 04/30/2012 4:49:44 PM PDT by Sub-Driver
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To: Sub-Driver

Subsidies for government finishing schools.

Hmm, donations are deductible, non taxed? Harvard is apolitical?

Why then are non-black churches threatened with loss of tax exemption when they express supposedly political views?


2 posted on 04/30/2012 5:05:27 PM PDT by Jacquerie (No court will save us from ourselves.)
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