April 7, 2006

In Iowa, 2 Colleges Separated by 150 Miles and $1.37-Billion

Grinnell, now the nation's richest liberal-arts college, tries to use its wealth to benefit its students

By GOLDIE BLUMENSTYK

In its 160-year history, Grinnell College has been rich and it has been strapped. As the many generously paid professors and well-subsidized students here today will readily tell you, being rich is better.

With an endowment that has grown from about $44-million in 1980 to about $1.4-billion today, Grinnell is the wealthiest liberal-arts college in the country and has the 35th-largest endowment over all.

For its 1,500 students, Grinnell's prosperity means paid summer research