The comments are mostly missing the point. The budget of harvard is almost 5 billion a year (this is a couple years old, I wouldn't be surprised if it was highe

The comments are mostly missing the point. The budget of harvard is almost 5 billion a year (this is a couple years old, I wouldn't be surprised if it was higher now) and it has a 50 billion dollar endowment with 25,266 undergraduate and graduate students. This is almost 200k/student/year in cost and 2 million/ student in endowment. If you compare to a school that also has a lot of fat but is still a top 100 university in the world that is subject to a different regulatory regime the University of Toronto, that has ~27k per student cost to run and roughly 27k per student in endowment. One can only conclude that Harvard is not a university at all, it's some weird new thing that is pretending to be a university for tax reasons and that tax protection should be annulled until the endowment is shrunk back down to something more reasonable like a year or less of operating expenses benchmarked against a real university like the University of Toronto.