America’s Richest Colleges, Led By Harvard, Are Getting Even Richer
An analysis of the nation’s richest private and public schools showed that nearly a third of the wealth in higher education is held by the 10 richest universities, according to Moody’s Investors Service.
The report, which was released April 16 and accounts for schools’ total cash and investments, includes top-20 lists for private and public universities. The 20 richest private schools include New England’s Harvard University, Yale University, Massachusetts Institute of Technology, and Dartmouth College, according to The Boston Globe. Harvard ranked No. 1 by a wide margin with $42.8 billion. No. 3 Yale had $25.4 billion.
“This group of financially leading universities is differentiated from the rest of the sector by long-term highly diversified investment strategies, exceptionally strong philanthropic support and healthy cash flows. Combined, these will contribute to ongoing wealth concentration in the higher education sector,’’ Moody’s Analyst Pranav Sharma said in a statement.
Read more in this Boston Globe story.
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