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Endowment Losses From Harvard to Yale Leave Universities Poorer

Source: bloomberg.com Posted By: Collin 3431 days ago

Harvard University and Yale University are preparing for an extended period of austerity as U.S. colleges are forced to cut spending next year and beyond to offset the biggest investment losses since 1974.

A payout formula based on prior years of endowment returns means Yale will have to do with less money even as markets rebound, President Richard Levin said in an interview last week. Schools including Harvard, Dartmouth College and the California Institute of Technology will be saddled by payments....

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