Yale Commits to Spend More From Its Endowment

By PAUL FAIN

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...