September 5, 2008

Lawmakers to Discuss Endowment Spending

By PAUL FAIN

The debate over how universities spend their endowments is returning to Capitol Hill. Sen. Charles E. Grassley and Rep. Peter Welch will hold a round-table discussion on September 8 in which higher-education officials and financial experts will discuss the relationship between endowments and college costs, as well as possible legislation that would require universities to spend 5 percent of their assets each year.

Mr. Grassley, the top Republican on the Senate Finance Committee, has

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