Thursday, May 21, 2015

Widening Wealth Gap

Inside Higher Ed
May 21st, 2015

When Harvard University’s endowment fell by more than $10 billion during the 2008 financial crisis, it was a blow to the institution. But a lot of college presidents across the country considered the loss -- and the remaining $26 billion in Harvard’s endowment -- and thought that perhaps there were worse problems to have.
Harvard’s endowment has since rebounded. The university has cash and investments of nearly $43 billion, and is the wealthiest college in the country by more than $10 billion. Harvard is part of a prestigious pack of the 40 wealthiest universities in the country, which hold two-thirds of all the wealth among the 500 colleges rated by Moody's, which rates institutions that are financially sound enough to trade in public markets.

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