University with $38 billion endowment worried about money after GOP tax plan passes

Brett T. | 8:31 PM on December 21, 2017

As expected, there were a lot of hot takes after the Senate passed the Tax Cuts and Jobs Act and sent it on to President Trump for his signature. What we didn’t expect was a bunch of moaning from Harvard University, a school with an endowment hovering around $38 billion.

The new tax on university endowments will weaken financial aid, faculty and research initiatives, and other institutional programs that support students, professors, and medical and scientific studies https://t.co/FZtxYba4wM

— Harvard University (@Harvard) December 21, 2017

Won’t someone think of the Ivy League!

world ends, ivy hardest hit https://t.co/UIHDAZ5sNg

— James Taranto (@jamestaranto) December 21, 2017

You charge $45,000 in tuition. https://t.co/TNXjgf2AM8

— NeoN: Automataster (@neontaster) December 21, 2017

Why don't you use some of your giant pile of cash for those things? For those who don't know, Harvard is sitting on nearly $40 billion in equity, largely as a result of government contracts and subsidies: https://t.co/XJrouxZfav

— Confiscated Coat ☭☭☭ (@CoatConfiscated) December 22, 2017

https://twitter.com/MaggotsMichael/status/943984782236581893

For years @EasterbrookG has been pushing for this. If they spent that $38 billion endowment on the students, that's $3.65 million per graduate/undergraduate student, enough for full tuition for 84 years, and that's ignoring any interest.

— Derek Ramsey (@ThyRamMan) December 21, 2017

https://twitter.com/grinchbot/status/943992344084230145