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Window Cleaning I was listening to NPR and apparently Harvard University is on feeling the pressure caused by the economic issues we’re facing. In the last couple of years the schools endowment, which is the largest of any college in the nation, has decreased from $37 billion to $26 billion. A big part of the rapid decline in the pot is due to the $4 billion + in spending that took place to ad 6.2 million square feet more to the campus’ facilities–something that is very interesting given the fact that the number of students has not changed in the last several years.
Sad also is the fact that unlike a regular financial institution, Harvard cannot dump their tenured faculty to cut expenditures. Also, it looks as though the university is not intending on cutting scholarships either, something they feel strongly about to still give the middle class an opportunity at a Harvard education. My personal thoughts are that the university did what everyone else did during the boom: they over-extended themselves.
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