Higher Education
Big Endowment Returns Pressure U.S. Colleges to Boost Spending
- Washington University earmarks $1 billion for financial aid
- Median return for college endowments was 27% last fiscal year
Photographer: Christopher A. Jones/Getty Images
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U.S. colleges are facing increased pressure to spend more on financial aid and salaries after their endowments posted some of the strongest returns in decades.
At least one, Washington University in St. Louis, said Monday that it will deploy $1 billion on financial aid, most of it for “need-blind” admissions, which means it won’t consider students’ ability to pay when accepting them.