According to this story in the Indianapolis Star, a number of lawmakers have expressed interest in trying to force universities to spend more of their endowments to reduce tuition. Sen. Chuck Grassley (R-Iowa), the ranking Republican on the Senate Finance Committee, believes Congress should "consider requiring schools to spend a minimum amount of what their endowments earn so they won't have to raise as much money from students." In testimony before the Committee, Lynne Munson of the Center for College Affordability and Productivity stated, "In too many cases, this wealth is being hoarded instead of shared." I think I am going to write a new pop song: "It's my wealth and I'll hoard it if I want to."
Here's a listing from the National Association of College and University Business Officers of universities ranked by 2006 endowment size along with growth in the endowment from 2005 to 2006. Harvard tops the rankings with an endowment of over $28 billion. Yes, you read that right - $28 billion.
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