And they're making money off the endowment. It's not just sitting there. Arguments from the point of view of financial hardship on universities seems a little tone-deaf.
If universities wanted people to worry about their financial solvency pumping out two generations with life crippling student debt was not the best option. I see universities say “but we will go bankrupt and have to close” and my response is “good”.
"former Dean of Harvard Medical School, estimated this as a loss of ~$70 million at Harvard’s current level of NIH support."
Harvard's endowment stands at ~$50,000,000,000. At ~$70,000,000 each year, Harvard's endowment could 'fill in the budget hole' for ~700 years...
And they're making money off the endowment. It's not just sitting there. Arguments from the point of view of financial hardship on universities seems a little tone-deaf.
If universities wanted people to worry about their financial solvency pumping out two generations with life crippling student debt was not the best option. I see universities say “but we will go bankrupt and have to close” and my response is “good”.