Connections: Understanding university and college endowments
Administrators at some large, private colleges and universities are speaking out against the tax plan recently passed by Congress. The plan would tax large endowments at some institutions, and administrators say that will hinder their ability to provide financial aid to students and cut back on faculty salaries and research. Supporters of the plan say the tax will push universities to invest more in education instead of stashing funds in large endowments.
The issue has sparked discussion about the value of endowments and what they cover. This hour, our guests help us understand what endowments are, who they benefit, and we break down how the tax plan will impact them. Our guests:
- Daan Braveman, president of Nazareth College
- Patrick Richey, vice president of finance for Nazareth College