Saving the world, not her alma mater
Quote:
Originally Posted by
tecumseh
Lets assume Duke can hit up Melinda for an extra half billion
Not a safe assumption -- Bill & Melinda are still trying to funnel most of their money through their foundation.
If you're curious, the Gates Foundation has an endowment of $33B, about $1.6B is from Mr. Buffett.
Please help me understand
Many colleges do an excellent job of educating students with limited resources especially endowments. http://www.teaglefoundation.org/liblog/entry.aspx?id=69
Most universities feel comfortable spending 5% of the endowment per year. At a school like Duke 5% of the endowment comes to $220,000,000 which even if we are counting graduate students comes out to about $22,000 a year of additional income. Yet Duke somehow charges more in tution often times significantly more, than many of these "poor" schools, limited resources schools that have no almost no endowments.!!!!!! This same could apply to Yale, Swarthmore, Grinell College, Stanford etc.
People hate change if Duke was committed, truly committed they could charge no tuition and IMHO still be on solid financial footing.