11 February 2008

Their Endowment on Our Backs

They're rolling in dough and we're still coughing up.

Last year, the average college endowment increased by 17 percent. Dozens of schools now have endowments of more than $1 billion — and it isn’t just the heavy hitters such as Harvard University, which has an endowment of $35 billion. The University of Maryland’s Great Expectations campaign set a goal of $1 billion. Even the University of Delaware’s endowment tops $1 billion. Spending just 1 percent of that money on financial aid would free $10 million for scholarships. When so many schools are flush with money, why does Congress continue to soak taxpayers?

To quote Judge Smails, "The world needs ditchdiggers, too."

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