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10/15/2007
According to an October 15, 2007 USA Today article, Congress is considering whether colleges with the largest endowments should use a portion of the return on their investments to keep tuition increases in check. The issue was prompted, in part, by recent announcements from several colleges and universities that they have made significant earnings on their portfolios. Among those with the highest return rates were Yale (28%), Harvard (23%), Bowdoin (24.4%) and William & Mary (19.2%). The number of colleges with billion-dollar endowments, which was 17 in the mid-1990s and is 62 today, is anticipated to increase to 100 in the next few years. Higher education officials have indicated that, often times, endowment funds are limited by restrictions from donors who specify how the money they contribute may be used. In addition, some are opposed to Congress dictating how colleges can utilize resources that have not been provided by the federal government.
The article is available at the USA Today Web site.
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