Spring Break
The Daily OrangeIvy League standards
By Ryan Balton
Posted: 3/5/08, 12:08 AM EST Section: News
"I think what is happening here though is a movement toward realigning financial aid programs that try to meet the needs of presumably low income students," he said.
A trickle down effect has started to take place in at least one school outside of the Ivy League. Northwestern University announced the same day as Cornell that it will replace its student loans with grants.
"For us at Syracuse, we have been looking at our financial aid programs and trying to see how we should be focused on providing access to the university for the most financially needy students," Saleh said.
"And we've been doing that over the years, but I think now we're in an era where we'll probably be putting more energy in within the next year to take a look at where we are."
Most of the schools are drawing a greater percentage on their endowments to fund the increased aid. Cornell plans to have a fundraising campaign and increase the payout of its $5.4 billion endowment from 4.7 to 5 percent. Yale's payout of its $22.5 billion endowment will be between 4.5 and 6 percent, said Moss and Storlazzi.
Seventy-six colleges had an endowment of over $1 billion in 2007, according to a study released by the National Association of College and University Business Officers.
SU passed the billion-dollar mark in its endowment in 2007, making it the 47th highest endowment in the report. The SU Office of the Treasurer's Web site is quick to point out the fact that the report ranks the endowment value per full-time student 205th, and experts don't know how feasible it will be for other schools to emulate the Ivy Leagues.
"Even for the schools with the billion dollar endowments, most of them haven't been able to follow Harvard and Princeton," Pals said.
According to its response to the Senate, SU spent nearly 7 percent in the 2006 and 2007 fiscal years.
"Many of those schools that have announced have endowments that are several times larger than ours," he said. "So it's easier for them to dip into their endowment."
A trickle down effect has started to take place in at least one school outside of the Ivy League. Northwestern University announced the same day as Cornell that it will replace its student loans with grants.
"For us at Syracuse, we have been looking at our financial aid programs and trying to see how we should be focused on providing access to the university for the most financially needy students," Saleh said.
"And we've been doing that over the years, but I think now we're in an era where we'll probably be putting more energy in within the next year to take a look at where we are."
Most of the schools are drawing a greater percentage on their endowments to fund the increased aid. Cornell plans to have a fundraising campaign and increase the payout of its $5.4 billion endowment from 4.7 to 5 percent. Yale's payout of its $22.5 billion endowment will be between 4.5 and 6 percent, said Moss and Storlazzi.
Seventy-six colleges had an endowment of over $1 billion in 2007, according to a study released by the National Association of College and University Business Officers.
SU passed the billion-dollar mark in its endowment in 2007, making it the 47th highest endowment in the report. The SU Office of the Treasurer's Web site is quick to point out the fact that the report ranks the endowment value per full-time student 205th, and experts don't know how feasible it will be for other schools to emulate the Ivy Leagues.
"Even for the schools with the billion dollar endowments, most of them haven't been able to follow Harvard and Princeton," Pals said.
According to its response to the Senate, SU spent nearly 7 percent in the 2006 and 2007 fiscal years.
"Many of those schools that have announced have endowments that are several times larger than ours," he said. "So it's easier for them to dip into their endowment."
Viewing Comments 1 - 1 of 1
EGON
posted 3/09/08 @ 12:06 PM EST
I've sent a letter to the US senate requesting that the US government consider placing a tax on all educational endowments, regardless of the level of education, over a billion dollars: The Education Endowment Tax. (Continued…)
Post a Comment