September 9, 2008

Lawmakers Ease Pressure for Mandatory Payouts as Colleges Increase Aid

By Kelly Field

Washington

Sen. Charles E. Grassley appears to be backing away from his threat to offer legislation that would require the wealthiest institutions to spend up to 5 percent of their endowment assets each year.

At a panel discussion on Capitol Hill on Monday, Mr. Grassley of Iowa, the senior Republican on the Senate Finance Committee, strongly hinted that he would abandon his plan if colleges continued to increase their spending on financial aid.

"I would like to encourage

Digital or Print Subscription

Web Pass

Already have an account? Log In Now.