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Presumably using the proceeds of the hedge fund they're running on the side.
by jon-wood 11y ago
Presumably using the proceeds of the hedge fund they're running on the side.
- vecter 11y agoHave you actually done the math to show this works out in the long run?
- jqgatsby 11y agohttp://web.mit.edu/facts/financial.html http://web.mit.edu/facts/financial.html In 2015, tuition accounted for only 10% of MIT's yearly revenue (~$331M), so you have to cut the rest of the budget by 10% to give everyone free tuition. One natural area to focus on is yearly administrative costs, which in 2015 were $763M. If you gradually cut administrative costs by building fewer beautiful buildings for undergraduates to be indebted in or hiring fewer administrators, you can afford for every undergraduate to attend tuition free.