5 ms·
How is $120M enough to do this? At a 4% withdrawal rate that's about $5M a year. They say the average student is graduating with 23,810 in debt. That's about $
by harryh 9y ago
How is $120M enough to do this? At a 4% withdrawal rate that's about $5M a year.
They say the average student is graduating with 23,810 in debt. That's about $6k per year assuming a typical 4 year undergraduate schedule.
$5M / $6k = enough to cover ~833 students.
According to https://www.brown.edu/about/facts https://www.brown.edu/about/facts, Brown has 6,580 undergraduates.
Seems like they'll need about 8x this much money to accomplish their goal?