The Briefing Room
General Category => Health/Education => Topic started by: rangerrebew on February 07, 2017, 09:41:24 pm
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College endowments plunge to Great Recession levels, but their spending goes up
January 31, 2017
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You’d think that colleges wouldn’t open their wallets as freely if their investments were doing poorly, yet that’s exactly what they did in the most recent fiscal year.
Average endowment returns went negative from July 1, 2015 through June 30, 2016, falling by more than three percentage points from the previous fiscal year, which showed meager growth, according to the latest National Association of College and University Business Officers-Commonfund survey:
http://www.thecollegefix.com/bulletin-board/college-endowments-plunge-great-recession-levels-spending-goes/
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It actually makes sense to me. Since most colleges are liberal and liberals are not the least bit concerned about fiscal responsibility, it only makes sense colleges would cut off their noses to spite their faces by going broke.
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In all fairness, a lot of these endowments are ridiculously bloated in the first place and could use some drawing down to help stop the upward spiral of students' expenses.