New league by endowment

[4everwarriors]

Toughest part of Harvard, Yale, or Princeton is gettin' in.

[Tugg Speedman]

I believe at Princeton, they make sure everyone with financial need gets either grants or scholarships.  They don't use loans as part of their financial aid package.

All theories d

Toughest part of Harvard, Yale, or Princeton is gettin' in.

Correct ... None of these schools need to charge tuition and they will tell you that.  So, once accepted, you pay what you can and the school will cover the rest.

[GGGG]

So why were you telling me that endowment was irrelevant when I mentioned Richmond's endowment as a positive for them joining the league? 

As I recall that discussion, it was a question of whether or not Richmond was actually using resources towards athletics.  Just because they *can* doesn't mean that's what they do.

[ZiggysFryBoy]

They are 34th, not even close to Harvard

Such a typical badger response.  Think they are top, really not so much.

I bet your (sixstrings) old lady's dad has never lived outside of the 77 sq miles either.

[Eldon]

My girlfriend's father (a Badger) claims regularly that UW is second only to Harvard in endowment size

Maybe he's thinking of the whole UW system (i.e., Madison + all UW@ schools), but even then it's not even close to Harvard, Yale, or MIT.

[ChicosBailBonds]

Maybe he's thinking of the whole UW system (i.e., Madison + all UW@ schools), but even then it's not even close to Harvard, Yale, or MIT.

Even if you add UW-Madison plus the rest of the UW System ($342M) it doesn't even make the top 25.  Heck, throw in Medical College of Wisconsin ($488M) and it comes in right at 25...not sure if MCOW is considered part of the UW system or not. 

[ZiggysFryBoy]

Even if you add UW-Madison plus the rest of the UW System ($342M) it doesn't even make the top 25.  Heck, throw in Medical College of Wisconsin ($488M) and it comes in right at 25...not sure if MCOW is considered part of the UW system or not. 

it's not.

[Chicos' Buzz Scandal Countdown]

Such a typical badger response.  Think they are top, really not so much.

I bet your (sixstrings) old lady's dad has never lived outside of the 77 sq miles either.

its like you know him! 

[Chicos' Buzz Scandal Countdown]

Not to turn this into Badger loser story hour, but that was probably the tamest of his claims... Wish I remembered the exact wording but my favorite was that UW was considered multiple times to join the Ivy League but wouldn't give up their football program (and athletic scholarships)

On an unrelated note, any advice on handling an obnoxious father-in-law?

[4everwarriors]

Buy him a condo in Florida.

[Dawson Rental]

As I recall that discussion, it was a question of whether or not Richmond was actually using resources towards athletics.  Just because they *can* doesn't mean that's what they do.

As I recall that discussion, you were saying that they almost certainly couldn't (i.e. can't) use their endowment for athletics because it probably had restrictions on its use.

[AlienWarrior]

Change the name back to warriors and we can get to $1 billion.   
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Now ya talkin Chicos, but this board is bored with the nickname controversy

[keefe]

Largest endowments

- Harvard University, $30.4 billion
- Yale University, $19.3 billion
- University of Texas system, $18.2 billion
- Stanford University, $17 billion
- Princeton University, $16.9 billion
- MIT, $10.1 billion
- University of Michigan, $7.6 billion
- Columbia University, $6.5 billion
- Texas A&M University system, $7.6 billion
- Northwestern University, $7.1 billion
- University of Pennsylvania, $6.7 billion
- University of Chicago, $6.5 billion
- University of Notre Dame, $6.3 billion
- University of California, $5.9 billion
- Duke University, $5.5 billion
- Emory University, $5.4 billion
- Washington University in St. Louis, $5.2 billion
- Cornell University, $4.9 billion
- University of Virginia, $4.7 billion
- Rice University $4.4 billion

At Harvard and Yale you can go tuition free if your family makes less than $50,000 ... And in some cases less than $100,000. 

I just checked and that's not quite accurate. Harvard will assess you tuition fees but will also ensure you have access to necessary funding.

[keefe]

My girlfriend's father (a Badger) claims regularly that UW is second only to Harvard in endowment size

Your GF's father is wrong.

[Tugg Speedman]

I just checked and that's not quite accurate. Harvard will assess you tuition fees but will also ensure you have access to necessary funding.

What is your source?

[keefe]

Universities use profits off endowments to fund much of the University.  The key is they usually use a 3-year running average of investment profits (off endowment) to set their budget.  The last economic downturn then really ate into the bottom line of most Universities, just starting to improve because of the 3-year average.

The problem is that, because of how bad the last downturn was for Universities, they are changing their investment strategies to be much more conservative (therefore low return and low budgets), so there isn't much improvement budget wise.

Big endowments, usually mean big pockets out there.  Universities that have big endowments can usually also raise funds much easier, thereby allowing them to increase Endowment to maintain a profit level even during the downturn/conservative investing.  Universities like MU are then hit much harder, since they don't have a large endowment, and a foundation of dedicated donors.

Not sure where you got this. I led the GE Cap Venture team that partnered with Harvard's TVO which is part of the Endowment Trust and the TVO has a very aggressive investment strategy. We took an equity position with Harvard, Harvard Care Group, and Sun Microsystems Venture Group on clinical trial infrastructure in Asia. Harvard expected an 18% CAGR which meant they would double their investment within 4 years. These guys are smart and expect an aggressive return on any investment involving the Harvard Brand. In the case of emerging markets, incipient technology, and the health care vertical they look to double their money within 4 years.

Harvard's Endowment is so huge that their investment beta is very different than the normal fund owner.

[nathanziarek]

...not sure if MCOW is considered part of the UW system or not. 

It'd make more sense to add their endowment to MUs considering the history. Plus, it'd get us closer to 1B!

[forgetful]

Not sure where you got this. I led the GE Cap Venture team that partnered with Harvard's TVO which is part of the Endowment Trust and the TVO has a very aggressive investment strategy. We took an equity position with Harvard, Harvard Care Group, and Sun Microsystems Venture Group on clinical trial infrastructure in Asia. Harvard expected an 18% CAGR which meant they would double their investment within 4 years. These guys are smart and expect an aggressive return on any investment involving the Harvard Brand. In the case of emerging markets, incipient technology, and the health care vertical they look to double their money within 4 years.

Harvard's Endowment is so huge that their investment beta is very different than the normal fund owner.

Can't speak for Harvard, but I know 4-5 other major Universities (Endowments in the $1-2 billion range) that have switched to 'safe' investment strategies and as such have not increased their budgets even with the 3-year moving average going up.  They really struggled to keep things going in the last crisis and never want to have to go through that again.

Harvard though is really in a class all by itself, with such a large endowment base if they can take an economic hit and mitigate its effects larger than the average university.  They may not alter their investment strategy then and remain aggressive.

[keefe]

What is your source?

Harvard has a portal for alumni. One of the pages is on sponsoring legacies for admission (ie your children.) There is also a section on sponsoring deserving underprivileged and underrepresented. Harvard makes it clear Tuition will, in all cases, be assessed but that funding is available to off set shortfalls in applicant resources. This is an accounting issue but Tuition in and of itself is never waived.

In no case did it say that Harvard would 100% guarantee financial aid to any applicant, regardless of need. Having worked on the investment side of the Endowment I know what they fund with it and paying tuition for poor students isn't very high on that list.

[Chicos' Buzz Scandal Countdown]

Your GF's father is wrong.

no crap

[Chicos' Buzz Scandal Countdown]

Harvard has a portal for alumni. One of the pages is on sponsoring legacies for admission (ie your children.) There is also a section on sponsoring deserving underprivileged and underrepresented. Harvard makes it clear Tuition will, in all cases, be assessed but that funding is available to off set shortfalls in applicant resources. This is an accounting issue but Tuition in and of itself is never waived.

In no case did it say that Harvard would 100% guarantee financial aid to any applicant, regardless of need. Having worked on the investment side of the Endowment I know what they fund with it and paying tuition for poor students isn't very high on that list.

Keefe - Harvard grad?

[keefe]

Keefe - Harvard grad?

I went to HBS

[Tugg Speedman]

I have a kid going to an ivy in the fall and my experience is they will not let finances stand in the way.  Or, don't worry about tuition and something can be work out.  They will bend over backwards to get qualified middle and lower income kids.

Then I read this article on page 1 of today's NY Times  ... They know high tuition is a problem now and they have a large enough endowment to do something about it ... And they are now.

I would suggest the Harvard Portal needs, and will be, updated soon.

http://www.nytimes.com/2013/03/17/education/scholarly-poor-often-overlook-better-colleges.html?hp&_r=0

Most low-income students who have top test scores and grades do not even apply to the nation's best colleges, according to a new analysis of every high school student who took the SAT in a recent year. ...

Elite colleges may soon face more pressure to recruit poor and middle-class students, if the Supreme Court restricts race-based affirmative action. A ruling in the case, involving the University of Texas, is expected sometime before late June.

Colleges currently give little or no advantage in the admissions process to low-income students, compared with more affluent students of the same race, other research has found. A broad ruling against the University of Texas affirmative action program could cause colleges to take into account various socioeconomic measures, including income, neighborhood and family composition. Such a step would require an increase in these colleges' financial aid spending but would help them enroll significant numbers of minority students.

Among high-achieving, low-income students, 6 percent were black, 8 percent Latino, 15 percent Asian-American and 69 percent white, the study found.

"If there are changes to how we define diversity," said Greg W. Roberts, the dean of admission at the University of Virginia, referring to the court case, "then I expect schools will really work hard at identifying low-income students."

[GGGG]

As I recall that discussion, you were saying that they almost certainly couldn't (i.e. can't) use their endowment for athletics because it probably had restrictions on its use.

Directly perhaps not.  Indirectly they can.

[GGGG]

Can't speak for Harvard, but I know 4-5 other major Universities (Endowments in the $1-2 billion range) that have switched to 'safe' investment strategies and as such have not increased their budgets even with the 3-year moving average going up.  They really struggled to keep things going in the last crisis and never want to have to go through that again.

Endowments by and large are moving money out of equities and into areas such as hedging.  Trying to achieve stability more than chasing annual returns.  Harvard really doesn't fall into that mix because they have been doing that for years.