February 28, 2008

As Economy Slumps, More States Make It Easier for Colleges to Spend Endowment Assets

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By PETER PANEPENTO

A growing number of states are passing laws to make it easier for colleges and other nonprofit groups to spend their endowment assets during difficult economic times. A report recommending ways to account for such endowment spending, however, could create special problems for colleges.

The new laws allow institutions to pay for scholarships, facilities, and other needs even as their endowments are losing money. While many colleges may not

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