Opinion | Danny Schwartz: 'Colleges and universities — especially the wealthy ones that can afford to do so — ought to decouple themselves from the sheer market logic that governs their endowment investment strategies.' - NBCNewsTHINK
, the University of Vermont’s $44,000 endowment per student is the highest figure of any public university system in the country. The endowment tax only affects the richest 35 or 40 private schools in the nation.
Colleges and universities — especially the wealthy ones that can afford to do so — ought to decouple themselves from the sheer market logic that governs their endowment investment strategies. Higher ed has become its own kind of industrial complex that primarily benefits administrators, tenured professors, and the corporations, investors, consultants and lobbyists with whom schools consort. Endowments are the engine of this industrial complex, the instruments that work to preserve institutional prestige and power. Financial aid isn’t the purpose of endowment growth — it’s a byproduct.
Colleges and universities — especially the wealthy ones that can afford to do so — ought to decouple themselves from the sheer market logic that governs their endowment investment strategies, which cheapens their educational mission and ability to affect social change.
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