A new study suggests richer schools continue to amass wealth.
Nick Anderson writes for The Washington Post:
Rich colleges and universities are getting a lot richer, study finds
The 10 richest universities in America hold nearly a third of the total wealth, in cash and investments, amassed by about 500 public and private institutions. The 40 richest hold almost two-thirds of the total wealth.
And their financial edge is widening. These schools are drawing an outsized share of gifts to colleges and universities. Their assets grew at at a far faster rate from 2009 to 2014 than the portfolios of schools in the middle and bottom of the pack.
Those are the findings from Moody’s Investors Service, released Thursday, in a study of the balance sheets of 503 institutions in the portfolio of the credit-rating firm. The study illuminates the disparity between the haves and the have-nots in higher education.
“This growing gap will pose increasing competitive challenges for institutions that do not have the resources to invest in facilities, financial aid, and other strategic initiatives at the same level as their wealthier counterparts,” Moody’s said.
Rich colleges and universities are getting a lot richer, study finds (The Washington Post)