Why universities cut budgets rather than tap from their massive endowments – Iola Register

FORT WORTH, Texas — While colleges and universities slash budgets in the face of historic losses, a common echo on every campus rings, “Use the endowment!”

Stanford University, with the nation’s fourth-highest endowment at $26.4 billion, cut 11 sports from its athletic department.

TCU, with an endowment of $1.7 billion, has scaled back benefits for employees, and high-ranking coaches and administrators have taken pay cuts.

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