January 18, 2008
Yale Commits to Spend More From Its Endowment
With pressure mounting on wealthy universities to spend more of their assets, Yale University has announced a 37-percent increase in spending from its $22.5-billion endowment for next year, and a new formula locking in a higher annual endowment-spending rate.
Yale will use a $1.15-billion endowment payout in its 2008-9 fiscal year to bankroll a "dramatic" increase in student financial aid, as well as for scientific research and a possible expansion of enrollment.
"The prudent
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