Quote:
Originally Posted by Jim in CT
I looked it up.
Harvard's endowment is $53 billion.
It's annual tuition plus room and board is $74,528.
They have 23,000 kids.
They could not charge a penny for tuition for any of those kids, and the endowment wouldn't run out for decades, and that's if it earned zero interest.
Yeah, that endowment is really keeping tuition down, Paul, you sure showed me..
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Again, you demonstrate your lack of intelligence so I'll help you by not going so fast:
About a third of Harvard’s annual operating budget comes from the endowment; last year, it contributed around $1.7 billion to Harvard, or over a third of the University’s entire operating budget. That spending supports all the vital functions of the University, from professorships to the library collection to financial aid. Harvard’s 12 schools are funded by the endowment to different extents: The Faculty of Arts and Sciences, for example, receives about 50 percent of its funding from the endowment, while the School of Public Health—many of its expenses provided for by a $350 million gift from 2014—takes only about 15 percent of its budget from the endowment.
Edit - and remember when you couldn't understand how E. Warren's Harvard pay wasn't paid for by student's tuition bc it was an endowed chair. It was like you had no understanding of what an endowed chair was.
And let's not forget the idiotic statement about trying to compare church's charity (maybe 3-5% of donations?) to what say the American Red Cross provides - prob. 85% - 95% of donations.