In our 9/30 Higher Ed Issues Landscape Report, we examined the backlash that several institutions experienced after their record endowment growth did not directly translate to benefits seen by students and faculty.
As the financial success of university endowments continues to trend in the online conversation, we are now seeing examples of institutions proactively getting ahead of scrutiny by committing to more student and staff support using their recent endowment returns.
Proactive University Endowment Initiatives Proactive University Endowment Initiatives
MIT
- On the same day that MIT announced a 55% endowment return, the university’s president penned a letter revealing several ways the “new funds” will be deployed.
- MIT’s “Task Force 2021 and Beyond,” which was launched shortly after the beginning of the pandemic to identify key priorities, will advise how student life and research can be improved.
- President Reif emphasized the opportunities for faculty, staff, and students to offer input on spending priorities through the budget process.
Dartmouth College
- In a release published by Dartmouth College’s Office of Communications, the school announced a 46.5% endowment return and committed to several initiatives that will be effective immediately.
- All undergraduates coming from households making up to $65,000 will not be charged tuition fees.
- All eligible employees will receive a 3% bonus at the end of the calendar year.
- Hourly minimum wage for student workers will increase from $7.75 to $11.50.
Washington University in St. Louis
- Washington University Chancellor Andrew Martin simultaneously announced a 65% endowment return and that the school would invest $1 billion in financial aid.
- As part of the investment, Chancellor Martin revealed the school will adopt a need-blind admissions policy called “Gateway Success,” calling it a “moral obligation” that was years in the making.
Proactive University Endowment Initiatives:
MIT
- On the same day that MIT announced a 55% endowment return, the university’s president penned a letter revealing several ways the “new funds” will be deployed.
- MIT’s “Task Force 2021 and Beyond,” which was launched shortly after the beginning of the pandemic to identify key priorities, will advise how student life and research can be improved.
- President Reif emphasized the opportunities for faculty, staff, and students to offer input on spending priorities through the budget process.
Dartmouth College
- In a release published by Dartmouth College’s Office of Communications, the school announced a 46.5% endowment return and committed to several initiatives that will be effective immediately.
- All undergraduates coming from households making up to $65,000 will not be charged tuition fees.
- All eligible employees will receive a 3% bonus at the end of the calendar year.
- Hourly minimum wage for student workers will increase from $7.75 to $11.50.
Washington University in St. Louis
- Washington University Chancellor Andrew Martin simultaneously announced a 65% endowment return and that the school would invest $1 billion in financial aid.
- As part of the investment, Chancellor Martin revealed the school will adopt a need-blind admissions policy called “Gateway Success,” calling it a “moral obligation” that was years in the making.