October 11, 2007

College Groups Ask Senate Panel to Avoid Setting 'Simplistic' Rules for Endowments

By Goldie Blumenstyk

Washington

Four major higher-education associations say the testimony about college endowments presented during a Senate hearing last month "painted an incomplete and disingenuous picture" of endowments and student aid.

In their own jointly issued testimony submitted on Wednesday to the Senate Finance Committee, the groups say that the opinions and descriptions offered by the hearing's two witnesses were "misleading" and that they "mischaracterized how college and university endowments

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