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Harvard has an endowment of about $55 billion dollars. Student population is about 22,000. At an industry standard 4% drawdown, they could provide $88,000 of “a
by koolba 2y ago
Harvard has an endowment of about $55 billion dollars. Student population is about 22,000. At an industry standard 4% drawdown, they could provide $88,000 of “aid” to every student indefinitely.
If you exclude foreign students and make them pay a full ride, or change that cap to a family net worth of <$5M, you could easily cover everybody else.
- CaliforniaKarl 2y ago> At an industry standard 4% drawdown, they could provide $88,000 of “aid” to every student indefinitely. Just to confirm: Are you saying that all endowment proceeds should go towards student aid? What would you suggest be done to restricted-purpose investments?
- koolba 2y agoMoney is fungible and that’s clearly more than enough to cover the cost of the service provided. It doesn’t have to be the sticker price.