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Cedar Rapids Gazette in Cedar Rapids, Iowa

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Newspaper

Cedar Rapids Gazette

Location

Cedar Rapids, Iowa, United States of America

Date

May 22, 2005

Page

14

Grinnell Endowment Growth Fuels Operating Budget

Grinnell College built its endowment from about 10 million to over 1 billion through Warren Buffett and Joe Rosenfield. The college spends up to 4.5 percent of three year average endowment to fund a 64 million operating budget, keeping tuition at 32690 while supporting need-based admissions and campus capital projects.

Warren Buffett Oracle Omaha Joe Rosenfield Grinnell Mickey Manley Munley Manley University of Northern Iowa Robert Koob UNI Iowa Koob University of Virginia Grinnell College Dartmouth College University of Rochester Univ. of Southern Calif California Inst. of Technology Vanderbilt University Williams College Johns Hopkins University Purdue University Brown University Wellesley College University of Minnesota Boston College Ohio State University Pomona College New York University University of Richmond Case Western Reserve Univ Swarthmore College University of Illinois Rockefeller University University of Pittsburgh Penn State University Unc-Chapel Hill Indiana University National Association of College and University Business Officers

Billionaire colleges raise prices despite vast wealth

The AP finds a diverse set of private and public billionaire colleges now spend heavily on construction and top faculty, driving tuition up. Private billionaire schools show a 63 percent rise in tuition over the last decade while flagship public campuses climb 106 percent, with some schools planning large increases next year.

Associated Press Academe Billionaire Public Schools University of Richmond

Billion-Dollar Campaigns Shape Faculty Pay and Aid

Public universities chase superstar professors and large gifts while expanding aid to offset rising costs. Notable researchers Hanna and Antonio Damasio left Iowa for USC to establish a brain institute backed by a $2.4 billion endowment.

Hanna Antonio Damasio University of Iowa University of Southern California

Also Mentioned on This Page

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