Here’s an idea on how to pay for free college for everyone who wants free stuff.
Let’s use Harvard as an example.
Here’s a link to Harvard’s 2018 financial statements:
Harvard shows that they spend $5.0B annually to run the University.
Revenue from students is $1.1B.
Where does the other $3.9B come from?
- Gifts $467M
- Investment Income $2.02B
- Other Revenue $689M
Harvard’s endowment has a balance of $39.23B. They have total assets of $46.96B. They had $44.93B of total assets invested. For 2018, these invested assets, including the endowment, earned $3.93B.
The University ran a surplus for 2018 (think “profit”) of $196M. They added $2.14B to the endowment in 2018 EVEN AFTER using $1.82B of investment income for operating the University.
They could make Harvard FREE for all students, undergrad & graduate, using the $196M surplus and another $904M of the $3.93B earned on investments. They’d still have $1.24B added to the endowment!!!!!
They also get $625M from the Federal Government.
This really means $625M of our tax dollars, every year, are funding a PRIVATE University with assets of $46.96B.
And, Democrats like Bernie Sanders, AOC, and others want taxpayers to pay even more? When schools like Harvard are rolling in dough?
This is just one example. I’m going to dig into some other universities with larger endowments & report my findings here. Does this seem kosher to y’all?
What comes to my mind is the expression, “Pigs get fat, but hogs get slaughtered.” It might be time to take a closer look at this topic and maybe send some “pigs” to the “slaughterhouse”.