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I was eating dinner today when I found this message (possibly left over from Homecoming Weekend)

"Duke's endowment is small compared to that of its peers - Harvard is $19.3 billion, Yale's stands at $11 billion, and Stanford's is $8.9 million while Duke's is a mere $2.74 billion."

I think I'm shedding sarcastic tears and laughing extremely hard at the same time.

By Alan5 (Alan5) on Tuesday, October 05, 2004 - 03:14 pm: Edit

Actually, Harvard's endowment is now $22.6 Billion:

http://www.news.harvard.edu/gazette/daily/2004/09/15-endowment.html

By Lfill (Lfill) on Tuesday, October 05, 2004 - 03:36 pm: Edit

Don't laugh. Endowment has everything to do with what a school can afford from financial aid to academic programs. The difference between what you can offer with a $2 billion endowment and a $20 endowment is huge. Schools with a lot of money give more grants and fewer loans (Princeton) for example. It shows a lot of places.

By Bellevueteen (Bellevueteen) on Tuesday, October 05, 2004 - 04:09 pm: Edit

Still..."mere 2.74 billion"

By Barrons (Barrons) on Tuesday, October 05, 2004 - 04:14 pm: Edit

Most schools spend about 5% of the endowment value per year. You do the math.

By Sokkermom (Sokkermom) on Tuesday, October 05, 2004 - 04:22 pm: Edit

From Duke's new President's recent inaugural speech: (entire speech on website)

".... universities must do everything they can to mitigate the problem of cost for those who can't pay the full fare, and to advertise the availability of aid to those who might miss such opportunities out of ignorance. This university admits undergraduates without regard to need and spends in excess of 40 million dollars a year meeting their financial need, and on my watch it will continue to do so. But the comparative youth that gives Duke enviable vigor does have a downside, namely that we lack the endowment older schools have accrued through time to meet this fundamental need. Recruiting the support to assure that this school never closes its doors to a worthy applicant will be a project especially close to my heart."