Skip to comments.Harvard Has $31.7B Tax-Exempt EndowmentóBut Still Got $5.6M in Federal Student Loans and Grants
Posted on 04/30/2012 4:49:41 PM PDT by Sub-Driver
Harvard Has $31.7B Tax-Exempt EndowmentBut Still Got $5.6M in Federal Student Loans and Grants By Terence P. Jeffrey April 30, 2012
(CNSNews.com) - In fiscal year 2011, Harvard Universitys 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 Harvards 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, Harvards endowment would have increased from $27,557,404,000 to only $31,722,519,843instead of the full $31,728,080,000 it achieved.
(Excerpt) Read more at cnsnews.com ...
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?