So they can afford to lower tuition, right?
University endowments gained 11.7 percent on average in the year ended June 30 as stock markets fueled a rebound from a 0.3 percent loss a year earlier, the National Association of College and University Business Officers and Commonfund Institute said.
Universities with smaller endowments produced returns equal to or better than wealthier schools because they keep much of their money in traditional stocks, rather than alternative assets like hedge funds and private equity, according to the annual Nacubo-Commonfund endowment report.
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For the record, I don’t expect them to lower tuition here in Paradise City…