Tuesday, January 31, 2012
College endowments rebound from recession
Post Gazette: A survey being released today finds that Pittsburgh's three largest universities, and several smaller campuses in the region, had endowment growth in 2011 that outpaced many of their peers around the nation. Carnegie Mellon University, the University of Pittsburgh and Duquesne University are among 823 public and private schools that participated in a joint survey by the National Association of College and University Business Officers and Commonfund Institute. The annual survey covered a 12-month period ending June 30, 2011, and offered evidence that campus endowments are continuing to rebound from the recession.
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4 comments:
I find it interesting that the University of Texas System as a public institution has such a large endowment. It is also interesting that the top tier schools are at such an advantage with their endowments being as large as they are. It is also interesting to see that the largest endowments did not see the largest return on their investments. It would be interesting to see a list of the organizations that run these endowments to compare who is being used by large groups of schools.
I would love to know how these endowments are being used. It's great that our endowment is growing and that the money can be put to good use in the coming year. It still doesn't seem like the economy's on a total upswing, though. I'm from a city that still has an unemployment rate of over 12% and still has one of the highest foreclosure rates in the country. Times are still tough for a lot of people, and I hope that those who do have money coming to them (i.e. Carnegie Mellon University) help out others who really need the support and do something positive with the money. There is enough money in this country that no one should have to be poor or struggling for work. It is unfortunate that so much of the money should lie in the hands of the few, as is illustrated by the college endowment statistics listed in this article. (Harvard has a $31.7 billion endowment? Really?!?!?!)
Well, this is good. Maybe now I could get some financial aid.
I actually don't think the recession hit schools hard at all. The average college tuition amount has been rising at an alarming rate, since before the recession.
I don't have high hopes for Carnegie's money to be used wisely, but, you know, maybe it will be.
Well those numbers are positive, at least people who have money to give are doing a little bit better in these hard economic times. I am glad that endowments are rising, any thing to help people get into and stay in schools is important, also schools providing environments that are better to learn in are very important and this can be achieved better with more money. I am glad that the people who have money are giving it again to institutions after having taken an economic hit. This means that education among the rich is still valued.
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