Quote:
Originally Posted by SaintMalaclypse
I failed to see where the US Gov't was raping students, wow.
A company, not a government, was cited as doing the unthinkable: running a profitable business.
Big woop.
By who? You want the government legislating even more regarding schools and education? Hasn't history taught you anything about mixing Gov't and Education?
And this word "need"...who, exactly, needs these changes you suggest? I'm sure some people want it, but not one person on the planet needs it. All any one of us needs is air, water, and land. The rest of what we want we can accomplish without Government intervention, thank you very much.
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A financial endowment is a transfer of money or property donated to an institution, usually with the stipulation that it be invested, and the principal remain intact in perpetuity or for a defined time period.
In the United States, the total endowment can be over one billion dollars at many of the richest universities. However, each university typically has numerous endowments, each of which are frequently restricted to funding very specific areas of the university. The most common examples are endowed professorships (also known as named chairs), and endowed scholarships or fellowships. For instance, Harvard University has 10,800 separate endowments.
At universities, typically 5% of the endowment's assets are spent every year, with any excess earnings reinvested to augment the endowment and to compensate for inflation and recessions in future years.[3] "Endowment funds have also been created to support public secondary and elementary school districts in several states. Kansas incorporated its first public school district endowment association in Paola, Kansas, a small town of 5000 population, in 1983. Today it has approximately two million dollars in endowed principal which generates approximately $110,000 annually to distribute in scholarships to high school graduates and fund special projects in the district which can not be afforded by the tax base.
Larger schools like Michigan, VA Tech, Harvard, Yale, Ohio State, Penn State, Boston College have multi billion dollar endowments. The list is very long.