College Endowments Shrank by a Quarter in Second Half of 2008
March 5, 2009 | Read Time: 1 minute
U.S. colleges and universities saw their endowments plunge an average of 24.1 percent from July to December last year, according to a nonprofit group’s survey of 629 institutions, Reuters and The Chronicle of Higher Education report.
Institutions with endowments under $10-million were hardest hit, with their funds losing 30.2 percent, according to the Commonfund Institute study, which is being released today. Commonfund’s executive director, John Griswold, called the showing “the worst-ever half-year results that educational endowments have seen.”
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