The Crimson No Longer as Well-Endowed

Posted on December 5, 2008
Filed Under News, The Daily Prereq | By Nikki Martinez

Not even the best college in the world is coming out of this recession unscathed. The Crimson reports that Harvard’s mega-endowment has fallen 22% in the last four months, roughly $8 billion. Harvard pres Drew Faust and executive VP Edward C. Forst announced in a letter that the school should expect a 30% endowment value drop by June 2009. The school’s currently working on implementing cost-cutting measures such as hiring and construction freezes as well as slashing operating expenses all around.

While losing almost a third of your endowment sucks, whatever school you are, let’s get some perspective: besides Princeton, Stanford, Yale and MIT, Harvard’s $8 billion loss is still more than any other university’s entire endowment. So it seems, at least for the moment, Harvard’s lights are going to stay on… fortunately or unfortunately.

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One Response to “The Crimson No Longer as Well-Endowed”

  1. Yale’s Endowment Shrinks : theprereq.com on December 17th, 2008 12:35 pm

    […] to be be outdone by their Cambridge counterpart, Yale University estimated a loss of approximately 25% of their endowment. So instead of $22.9 […]

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