PILOT SPIN
Spin Zone => Spin Zone => Topic started by: Lucifer on April 17, 2020, 05:25:29 AM
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Such Bullshit. Harvard has $40B in endowments.
https://www.thecrimson.com/article/2020/4/15/harvard-coronavirus-cares-act/
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The Department of Education allocated most of the $14 billion in funds based on two factors: the share of recipients of federal Pell Grants, and overall undergraduate and graduate enrollment numbers. It weighted the proportion of Pell Grant recipients as a factor at 75 percent, while enrollment was weighted at 25 percent.
As a result, the top 20 colleges which received the most funding are all public colleges and universities with enrollments in the tens or hundreds of thousands. Arizona State University received the largest relief package of any institution in the nation, netting more than $63 million.
Harvard’s aid package is the third-largest of the Ivy League universities’. Columbia University and Cornell University will receive the largest awards, at $12.8 million each. Yale University will receive nearly $7 million, and Princeton University will net around $2.5 million.
In an April 9 letter to college and university presidents, Secretary of Education Betsy DeVos encouraged administrators to set a maximum amount for individual student aid grants.
What a total load of crap. Universities are already heavily government subsidized directly through government backed STUDENT LOANS. That's why they can charge ridiculous amounts for tuition.
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...and how much of that will benefit china?
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I think it is BS also. I would say that there may be strings attached to the endowment money. Our EAA Chapter has a restricted funds account. Money that is donated for a specific reason goes into that account and can only be used for that purpose.
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This is no different than the Vatican complaining of lost money, yet the Vatican sits on billions of dollars in artwork, and billions in endowments.