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Report Finds College Endowments Lack Transparency
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A new report from the Associated Press looks at the secrecy behind college endowments.
The group found that, despite pressure from student and activist groups, as well as Congress, many schools aren't making their investment holdings public. Critics are worried because college and university endowment investments have no spending regulations and are not taxed.
According to the Associated Press, "Out of 50 public and private universities asked to disclose their investments, 39 schools with combined endowments of $255 billion refused to provide a single record."
Guest
Collin Binkley, higher education reporter for the Associated Press. He tweets @cbinkley.
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The Associated Press: Amid Push For Transparency, Few Colleges Reveal Investments
- "Out of 50 public and private universities asked to disclose their investments, 39 schools with combined endowments of $255 billion refused to provide a single record. Four never responded to the requests sent in September. None of the private universities, which are not subject to open-records laws, released any information."
The Chronicle of Higher Education: Endowments Are Financial Pillars, Not Piggy Banks
- "So why are our endowments getting such a bad rap? They have been attacked by higher-education critics, politicians of all stripes, and others who are just plain frustrated by rising college costs. The bigger the endowment, the bigger the target, and the easier it is to make comparisons and draw conclusions that spark outrage but contribute nothing to understanding and reasonable discussion."
This segment aired on March 17, 2016.