Seize the Endowments.

Seize the Endowments.
AP Photo/Elise Amendola, File
A nu
mber of elite American universities are finding themselves in hot water for their miserly behavior in response to the coronavirus. Harvard University is taking well-deserved heat for laying off its food service workers while sitting on a $40 billion endowment. Yale University, too, has been twisting in the wind; when New Haven mayor Justin Elicker asked the university to provide temporary housing to the city’s firefighters and police officers, the university initially refused. Then, after taking a public relations and social media beating, Yale relented, grudgingly agreeing to allow city officials to stay in the university’s vacant dormitory housing.  That seems like the least a university with a $30 billion endowment could do.

Meanwhile, other universities are using the coronavirus crisis to enrich themselves. Howard University, which had an endowment of $688 million dollars as of June 30, was given $13 million in the recent coronavirus relief bill. Read Full Article »


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