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.
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Warren Buffett
Oracle
Omaha
Joe Rosenfield
Grinnell
Mickey Manley
Munley
Manley
University of Northern Iowa
Robert Koob
UNI
Iowa
Koob
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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.
MENTIONED IN THIS ARTICLE
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.
MENTIONED IN THIS ARTICLE
Hanna
Antonio Damasio
University of Iowa
University of Southern California
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