3 ms·
Right, even Brown, one of the poorest Ivies, has more than $2 billion in endowments. And one of the methods they do to afford it is charging higher tuition: Chr
by mjmahone17 14y ago
Right, even Brown, one of the poorest Ivies, has more than $2 billion in endowments. And one of the methods they do to afford it is charging higher tuition: Christina Paxson, Brown's president, has (maybe not officially, but at least in private) has said that she wants tuition to work similar to a graduated-income tax. This would mean even children of rich ($150-200k/yr) parents would be eligible for some amount of financial aid (because $150k/yr isn't enough to be able to afford $60k/yr tuition), but they may end up paying the same tuition as everyone would normally, if there were no financial aid.
This is also a large part of the logic top-tier schools have used to justify their increased tuition to the federal government.
- flexie 14y agoIf Harvard really wanted that they could offer their education for free to all 21,000 students right now, cover the tuition with a 4 percent interest on their endowment and still have more than $5B left for other expenses.
- mjmahone17 14y agoRight, but why would you have everyone going for free, when you can get a guarunteed $60k/yr of revenue from ~30%+ of your students, without it presenting any hardship to them? Also, I'd be unsurprised if another reason for raising tuition was to raise the perceived value of the university. Which would help contribute to even higher donations.