Tom Brady’s Hail Mary cash hasn’t saved this tiny college
Just over one mile from Boston College sits a far lesser-known school of 400 undergraduate students. The struggling Pine Manor College was recently bolstered by a $4.5 million land purchase Tom Brady and Gisele Bundchen made in 2013.
But getting almost half of its $10 million endowment from New England’s best-known power couple hasn’t solved the college’s financial problems, according to Public Radio International.
College president E. Joseph Lee has “left his position with the school,’’ according to the Boston Business Journal. Lee joined Pine Manor in 2013 amidst the school’s switch to co-ed enrollment: a change that was aimed at adding to its tiny student body. Lee has criticized the school’s habit of offering upwards of 50 percent in aid to incoming students, according to PRI. But with a $36,000 per year pricetag, that generosity may be necessary to keep undergrads coming.
The school offers only undergraduate degrees in liberal arts. PRI reported that a large portion of the student body come from low-income backgrounds.
That’s a far cry from Pine Manor’s original purpose: a finishing school for Brahmin debutantes.
It remains unclear who might replace Lee as president, according to the Journal.
Click here to read the full PRI story.
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