University to increase annual spending from endowment
Change in 'spending rule' will provide extra money for financial aid, scientific research
Posted Monday 7:30 p.m. In an aggressive change of course, Yale will increase the amount of money it spends from its endowment by nearly 40 percent next year in part to provide more financial aid to students and to launch new research on the West Campus, University President Richard Levin announced Monday.
The move comes after months of pressure from Congress and other critics who assailed Yale and other top universities for not being generous enough with spending their endowment riches, and in preparation for the University’s highly anticipated unveiling next week of a new...
This is great!!! We are looking foward to the disclosure of the financial aid details!
Wow. Yale really does copy everything Harvard does. That's hilarious.
To 2:03pm..
Not really.. Harvard earned only 24% last year (trying to copy Yale's investment strategy) while Yale earned 28%
:P
No other university will be able to match this, because they were already spending at a higher rate.
Stanford has hinted that it may be forced to reconsider its 2008-9 financial aid projections given Harvard's initiative. They had planned to increase aid 15%.
This should no longer be called "financial aid." This term implies that paying for college is a hardship and that families need some help to afford it. The funds being paid by Harvard and Yale are now so high that the intent is not to assist families who would otherwise have a hard time coming, but to bribe students to accept admission offers. Which makes me wonder if the kind of student who chooses a college based on which college pays them the most is really the kind of student Yale wants.
Yeah!!!!! The finaly dicided
WHOOOOOOOOOOOOOOOO HOOOOOOOOOOOOO!