Wednesday, December 03, 2008

Down Economy Hits Higher Ed

Being from a college with a relatively small endowment, I hadn't given much thought to the effect of the economic downturn on college investments. Although colleges and universities typically invest in very safe instruments, one begins to wonder if there are any safe investments in this economy. It's hard for me to fathom a college losing over $8 billion of their endowment fund and predicting that it could go as high as $11 billion by the end of the fiscal year. Harvard’s Endowment Takes an $8 Billion Hit -
In a sign of the economic times, Harvard has sent a letter to its deans saying that the university’s $36.9 billion endowment fund lost 22 percent of its value in the last four months and could decline as much as 30 percent by the end of the fiscal year on June 30.
photo by pfala

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