December 11, 1998

Harvard U. Increases Its Rate of Spending on Endowment Earnings

By KIT LIVELY

Harvard University announced last week that it would begin spending nearly $100-million more in endowment earnings in fiscal year 1999-2000 than it does now to support financial aid and academic programs, particularly in the sciences.

The move, which will be closely watched by other colleges, comes at a time when critics have charged that the country's richest universities hoard too much wealth.

Harvard

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