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Often considered vital to the financial health of private colleges and universities, endowments provide necessary income for the yearly budget as well as a safety net of savings for a rainy day – for if, say, the economy falls into a recession. Why, then, are leading academic institutions hoarding their money while slashing faculty, financial aid, and programs? On Inside Higher Ed, Mission and Money co-authors Burton A. Weisbrod and Evelyn D. Asch give some perspective on the leading universities that are squirreling their savings away.
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