October 19, 2007

College Groups Discourage Forced Endowment Payouts

By GOLDIE BLUMENSTYK

In testimony submitted to the Senate Finance Committee last week, four major higher-education associations said that the Senate had been given "an incomplete and disingenuous picture" of endowments and student aid at a hearing held last month, and that Congress should reject calls that it require endowment payouts.

Two witnesses at last month's hearing — Lynne Munson, an adjunct fellow at the Center for College Affordability and Productivity, and Jane G. Gravelle, an