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Message: [QUOTE="huskymedic, post: 3606366, member: 549"] Good article about endowments... [URL='https://mattbrown.substack.com/p/what-the-heck-is-a-college-endowment']What the heck IS a college endowment anyway? I asked an expert[/URL] Persona non grata but Forde touches on endowments here today: >>[URL='https://www.si.com/college/2020/07/09/college-football-season-in-jeopardy-stanford-ivy-league-coronavirus']A solution proffered by many Wednesday: just dip into that $27.7 billion (with a “b”) university endowment to prop up the athletic budget.[/URL] But that shows no understanding of how endowments work. Stanford says 75% of its endowment money is earmarked for specific purposes by donors, and at a place like Stanford the purposes are overwhelmingly academic. (There are athletic endowments, including the head-coaching positions on many varsity teams.) You can’t just dip into the endowment bank account for whatever needs may arise on campus. Also, endowment spending is capped at five% per year, since the goal is to keep the university well-funded in perpetuity. Given a yearly full cost of attendance price tag in the neighborhood of $75,000, a lot of Stanford students receive financial aid. Two-thirds of the annual endowment spending goes toward paying those need-based grants. As much as Stanford likes winning sports championships, it is hardwired to produce rocket scientists, tech wizards, lawyers and titans of industry. That isn’t going to be altered to save the rowing team.<< [/QUOTE]

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