Word: tuition
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Dates: during 1990-1999
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Harvard announced two weeks ago that its endowment has soared to $11 billion. Now students are asking what--with yearly tuition, room and board hovering just above the price of a small Merceds Benz sedan--benefits they might see from this wind-fall...
...University officials said the reason an extra $2.2 billion in the University's coffers won't have an earth-shattering impact on tuition is complex-and that the endowment figure can be deceiving...
...Harvard, with its $9 billion endowment [last year's number], is in an even more advantageous position [than the University of Pennsylvania]," the Time article said. "A 1-percentage-point increase in endowment spending would yield an extra $90 million, enough to cut its base undergraduate tuition nearly in half...
First, FAS has only 4.6 billion in its endowment ($11 billion is the total for all of Harvard, including its 10 schools and other units). Second, roughly 75 percent of the endowment is restricted for some particular purpose. For the University to simply reallocate his money to lowering tuition would be illegal...
...Percentage of increase in Harvard's tuition from last year to this year...