Harvard Got $5.6M in Federal Student Loans and Grants--Despite Its $31.7B Tax-Exempt Endowment

by TERENCE JEFFREY May 1, 2012

In fiscal year 2011, Harvard University's tax-exempt endowment jumped in value by about $4.17 billion, rising from $27,557,404,000 to $31,728,080,000--but that did not stop Harvard from collecting tuition and fees derived from federal grants and student loans that U.S. taxpayers provided to Harvard undergraduates.

Other universities with major endowments--including Yale and Princeton (from which the author of this article graduated)--also saw massive increases in their endowments and they also benefited from their students paying tuition and fees with federal grants and loans.

In the 2009-2010 school year, according to the U.S. Department of Education, Harvard undergraduates received $4,093,140 in federal Pell Grants and $1,467,017 in federal student loans.

This total of $5,560,157 in grants and loans that federal taxpayers provided to Harvard undergraduates in the 2009-2010 school year equaled only about 0.13 percent of the $4.17 billion that Harvard's endowment increased last year.

Had Harvard settled for an increase in its endowment of only $4,165,115,843--instead of $4,170,676,000--it could have covered the entire cost of all the federal loans and grants that the taxpayers provided to its students in the 2009-2010 school year.

In that case, Harvard's endowment would have increased from $27,557,404,000 to only $31,722,519,843-instead of the full $31,728,080,000 it achieved.

The full cost for tuition, fees and other expenses for an undergraduate at Harvard was $53,950 in the 2010-2011 school year, according to the Department of Education.

According to the National Association of College and University Business Officers, Harvard has the largest tax-exempt endowment of any university in the country. However, as noted, other schools with large tax-exempt endowments also benefited from student loans and Pell Grants that federal taxpayers provided to their students. (See below for a list of the schools with the 10 largest tax-exempt endowments in the country and the federal student loans and grants the students at these schools received.)

For example, Yale's endowment increased by $2.72 billion in fiscal 2011-rising from $19,374,000,000 to $16,652,000,000. But in the 2009-2010 school year, Yale students received $2,339,738 in federal student loans and $2,894,874 in Pell Grants.

The full cost of Yale was $55,300 in the 2010-2011 school year, according to the Department of Education.

 

Click to continue reading...

 

Terence P. Jeffrey started as editor in chief of CNSNews.com in September 2007. Prior to that, he served for more than a decade as editor of Human Events, where he is now an editor at large. Terry was born in San Francisco and raised in the Bay Area, the seventh of eleven children. Both his parents were doctors of medicine. Terry writes a weekly column for the Creators Syndicate. He and his wife, Julie, have five children and live in the Virginia suburbs outside Washington, D.C.


blog comments powered by Disqus

'5-car pileup': Iowahawk senses Hillary's campaign desperation [Vine]

February 08, 2016  10:22 AM

And "admitting that Obama's a total failure" on top of the rest.

The post ‘5-car pileup’: Iowahawk senses Hillary’s campaign desperation [Vine] appeared first on twitchy.com.

NARAL in Ohio uses Super Bowl babies ad to push IUD use [video] #SB50

February 07, 2016  10:11 PM

"Woo, people got pissed we tweeted about #SuperBowlBabies!"

The post NARAL in Ohio uses Super Bowl babies ad to push IUD use [video] #SB50 appeared first on twitchy.com.

Is Hillary Clinton OK with aborting the baby in the Doritos Super Bowl ad? #SB50

February 07, 2016  07:23 PM

"It's not a baby it's a clump of ce-- , no it's a baby."

The post Is Hillary Clinton OK with aborting the baby in the Doritos Super Bowl ad? #SB50 appeared first on twitchy.com.

David Axelrod forced to apologize for misquoting @RealDonaldTrump

February 07, 2016  05:42 PM

"...liar liar liar liar and you wonder why people hate media."

The post David Axelrod forced to apologize for misquoting @RealDonaldTrump appeared first on twitchy.com.

'Obama love fest': In pre-Super Bowl interview, POTUS insists 'we're like everybody else' [video]

February 07, 2016  05:07 PM

"Made me change the channel."

The post ‘Obama love fest’: In pre-Super Bowl interview, POTUS insists ‘we’re like everybody else’ [video] appeared first on twitchy.com.

10 year FSM Anniversary

FSM Archives

More in MUST READS ( 1 OF 25 ARTICLES )