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originally posted by: CharlieSpeirs
This is better from you Jamie...
Definitely worth a Star & Flag.
That's a hell of a lot of money in the coughers.
What the hell would they need that much money for exactly?
originally posted by: Jamie1
Just giving the facts.
Harvard's endowment is at $36 billion. If they generated just a 10% ROI (their 40-year historical ROI) on this money, that would be $3.6 billion per year.
They could finance the tuition of 3,000 students at $1,2 million per year for all eternity and STILL have $36 billion in the bank. That's full tuition, room, food, and a Mercedes and BMW, and a condo in Vermont to go skiing on winter break.
Instead, they charge students about $60,000 a year and send them into the world with $100k in student debt.
But wait... it gets better....
Harvard got $656 million in Federal funding in 2012, and protested, and defeated, a proposed reduction in funding.
And wait... it gets even better....
Harvard has tax exempt status.
Basically, Harvard is a tax-exempt hedge fund fronting as a University.
Of course, Harvard grads like Obama and Harvard professor Elizabeth Warren demonize greedy corporations, and their loyal and misguided followers get the torches and pitchforks ready.
Let this sink in.
$36 BILLION endowment.
$656 million in Federal funding from our tax money GIVEN to Harvard, not loaned.
But hey, they're good guys because 47% of their students' ethnicity is not European and they are zealously politically correct.
During the next election when you hear people talk about corporate welfare, remember Harvard, and the word "hypocrisy."
No wonder they desperately try not to offend anybody.
originally posted by: Sremmos80
a reply to: CharlieSpeirs
Cause this is America and cash rules everything.
School is big money.
Jamie do you want to have the conversation on tuition at schools and what they could do to lower them or is this just about warren and barry?
originally posted by: aboutface
Hi OP. Just so you know, your first link brings me to an error page.
However if what you say is correct, then there is plenty for people to be upset about. My kids are still paying off student loans and I share your outrage that deserving children should be penalized with such loans while the institution itself is reaping and reaping at the expense of taxpayers.
I wonder how many other universities exist with such a scheme?
originally posted by: Edumakated
Isn't it amazing? The bastion of liberalism doesn't even practice what they preach. Where's the redistribution of wealth? How about give back some of those profits earned from investing the endowment. If I recall correctly, the portfolio manager of the endowment was making like $50 million a year.
originally posted by: Jamie1
Not saying it's good or bad. It is what it is.