Congress may still mandate spending
The estimated 25 percent plunge of Yale’s endowment has not convinced several members of Congress to cast aside their scrutiny of Yale’s and other universities’ enormous stockpiles of wealth.
Rep. Peter Welch, Democrat of Vermont, renewed Tuesday his pledge to introduce legislation that would require colleges to spend more of their endowments to make higher education more affordable. And the office of Iowa Sen. Chuck Grassley, the ranking Republican on the Senate Finance Committee, which last year requested detailed endowment and spending data from the wealthiest 136 colleges,...
To the extent that this is a surrogate discussion on the per cent of excellent needy students from US families admitted to Yale, and the real focus of Yale's resources, not spending 5 per cent in the last 10 years only means there is more endowment $$ left to lose beyond the current 25 per cent figure.
Only* Democrats could be this stupid.
*(The exception are Republicans.)
Agree with first post. FOCUS first the on a transparent and properly-executed allocation of funding of PUBLIC EDUCATION. The reason i even applied to private universities is BECAUSE i knew i would get more financial aid than if I had applied to public schools. I paid less for my 4 yrs at Yale than my parent paid for my brother's one year at Berkeley.
Granted, rich students play with more expensive toys, but extracurriculars are in fact just that - optional.
Why doesn't representative Welch put his (our) money where his mouth is and properly support higher education with loans and grants which realistically reflect the costs of education?
I find it interesting that Congress finds outrage for Harvard and Yale not spending enough of their endowments on financial aid when it is now cheaper for the average parent to send their kids to the top of the Ivy League than to the University of Connecticut or the University of Massachusetts.
I'd like to see college become more affordable but that requires addressing the real problem in higher ed, the growing expense of public education.