I want to encourage you all again to find out if your school has been amassing tuition income in "reserve" or other funds. We have found two schools so far, and the amounts are staggering (The university of Wisconsin had stockpiled between $400 and $600 million, and a community college in Illinois had managed to squirrel away $80 million).
This is important, folks. The schools have all been scaring the public by "crying poor, threatening closure, etc. The imminent financial collapse of schools was (and is) used as a bargaining chip to compel their state legislatures to give them money, and most importantly, to justify raising their tuitions massively (at a rate far greater, even, than prior to the financial crisis).
If schools wish to build endowments, they should (and do) launch capital campaigns soliciting funding from their alumni, and other interested stakeholders. Skimming money off the top from tuition income, and squirreling it away is not appropriate, not ethical, and certainly not anything like an endowment! People everywhere- particularly state legislators- should be absolutely livid if schools under their purview have been engaging in this shameful practice.
Find out. If you want to partner with a local news organization to get the info, do it. Whatever it takes. Just make sure to tell us what you find so we can get an idea for what we are looking at on a national scale.
Here is a media piece about the University of Wisconsin situation to give you a feel for what we are after...
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