January 8, 2008

Yale's Endowment-Spending Increase Earns Praise, but Senator Keeps Pressure On

By Paul Fain

With pressure mounting on wealthy universities to spend more of their assets, Yale University announced on Monday 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.

According to the announcement, which comes less than a month after Harvard University unveiled a sweeping tuition-assistance program, Yale will use a $1.15-billion endowment payout in its 2008-9 fiscal year to

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