Word: grassley
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Harvard’s $35-billion endowment has also drawn scrutiny from Washington, where Senator Charles E. Grassley, an Iowa Republican, has proposed legislation to make universities spend five percent of their wealth each year, as foundations must...
...Grassley, the ranking member of the Senate Finance Committee, sent letters in January to the 136 wealthiest colleges in the nation asking for detailed information about their finances and operations...
...know we have a large endowment but that endowment funds programs and research across a university,” Faust said. “It’s not just a great pot of money that we can dip into.”U.S. Senator Charles E. Grassley, the ranking member of the Senate Finance Committee, has made a point of criticizing universities for maintaining ample endowment funds at the cost of financial aid, most recently requesting financial data from Harvard and 135 other institutions in January.The parents weekend event had its lighter moments, with Faust and Pilbeam drawing applause...
...Grassley has led the investigation into schools’ spending levels on financial...
...hard line spend-out may not necessarily be the answer,” Casey said, referring to an across-the-board spending mandate. “It would be our hope that this information that [Grassley] is bringing in will lead to a different conclusion...