Monday, November 16, 2009
Endowment Hardships and the Power of Nice | The Citizen: "Harvard recently reported that the value of its endowment declined by $11 billion, or 27 percent of the total. This is the equivalent of 35 years’ worth of tuition from the combined 20,230 undergraduate and graduate students. For the University, this represents the most severe financial setback in its 373 year history and will undoubtedly have serious consequences. The ambitious Allston Science Complex, scheduled for completion in 2011 at a cost $1.2 billion, has been put on hold. Capital spending overall has been cut by half."