Universities Are Becoming Billion-Dollar Hedge Funds with Schools Attached
I don't really care if universities hire hedge managers to manage their endowment, but it's absurd that schools with multibillion dollar endowments still charge tuition.  Yale has ~12,000 students and a $26 billion endowment.  Tuition is ~$45,000 per student.  $45,000 * 12,000 = $540 million.  They can't spend 2%(540/26,000) of their endowment per year on free tuition?  What is this money for?Of course this ignores financial aid so Yale's operating costs are much less than $500 mil/year.  If you're going to donate to a university your money will go much further at a small college that actually needs your money and will actually spend it rather than hoarding it.  TMQ had some great articles about this topic back in the day.  http://espn.go.com/nfl/story/_/page/TMQWeekFour140930/robert...  Halfway down.