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EDUCATION: COLLEGE :
WEALTH :
FINANCE:
Widening Wealth Gap
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Widening Wealth Gap
May 21, 2015
By Kellie Woodhouse
Inside Higher Ed
https://www.insidehighered.com/news/2015/05/21/
rich-universities-get-richer-are-poor-students-being-left-behind
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A shorter URL for the above link:
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http://tinyurl.com/lvcx527
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When Harvard Universitys endowment fell by more than $10 billion during
the 2008 financial crisis, it was a blow to the institution. But a lot of
college presidents across the country considered the loss -- and the
remaining $26 billion in Harvards endowment -- and thought that perhaps
there were worse problems to have.
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Harvards endowment has since rebounded. The university has cash and
investments of nearly $43 billion, and is the wealthiest college in the
country by more than $10 billion. Harvard is part of a prestigious pack of
the 40 wealthiest universities in the country, which hold two-thirds of
all the wealth among the 500 colleges rated by Moody's, which rates
institutions that are financially sound enough to trade in public markets.
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The rest of the pack have median cash and endowments of $273 million, or
just 4 percent of the median $6.3 billion in cash and endowments at each
of the wealthiest institutions, according to an April Moodys report.
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snip
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And while many of the wealthiest colleges offer need-based scholarships
for their poorest students, they enroll a relatively small percentage of
low-income students compared to their less wealthy peers.
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The complete article may be read at the URL above.
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