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Not Good News

worried_momworried_mom Registered User Posts: 2,205 Senior Member
edited February 2009 in Brown University
Losses to Brown's endowment have finally been announced:

Endowment stands to lose $800m - Campus News
Post edited by worried_mom on
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Replies to: Not Good News

  • the prophetthe prophet Registered User Posts: 715 Member
    oh, damn...
  • franglishfranglish Registered User Posts: 2,308 Senior Member
    This loss is true for so many (all?) schools. Luckily, it seems that President Simmons and her advisory team are being very careful about how they will compensate for the losses. If you read the editorial in today's Brown Daily Herald, the reaction on campus seems to be sober, yet realistic. At least, for us, financial aid is being protected, as is the current curriculum. Re-examining growth, at this time, is extremely prudent.
  • MiPerson80MiPerson80 Registered User Posts: 298 Junior Member
    Since Brown is the poorest of the ivies, not a good sign.
  • modestmelodymodestmelody Registered User Posts: 4,654 Senior Member
    The loss is completely on par with peers-- it's not good, but its no worse than anywhere else.
  • shawbridgeshawbridge Registered User Posts: 5,595 Senior Member
    One difference between Brown and other Ivies is that President Simmons was apparently hiring in anticipation of a successful fund-raising program, which probably also suffered from the economic meltdown, so the meltdown may entail more belt-tightening for Brown than at some other schools that "merely" need to tighten because their endowment income will be lower.
  • modestmelodymodestmelody Registered User Posts: 4,654 Senior Member
    Well we've freezed hiring some time ago and our fundraising was only down 4% as of Dec 31st from the year before, so we're not really in any more dire straights.

    We just have a few building projects we wanted to get underway that cannot because we're no longer going to start building unless the money is actually collected as opposed to pledged.
  • dcircledcircle Registered User Posts: 1,846 Senior Member
    Harvard lost $8B and froze faculty hiring months ago. Nobody is in good shape.

    Plus, the $800m purposefully overestimates the loss. Given that the economy is projected to get significantly worst, the university is simply being conservative.
  • shawbridgeshawbridge Registered User Posts: 5,595 Senior Member
    My impression was that Brown was in the midst of a big capital campaign, modestmelody, and that the new hiring was predicated on that capital campaign. If I'm right (and my recollection may not be correct), only being down by 4% wouldn't be as good as it seems. Other than that, I don't see why Brown would be any worse off than other Ivies.
  • modestmelodymodestmelody Registered User Posts: 4,654 Senior Member
    Yes, we are in the midst of a capital campaign to raise 1.4billion by June-- we already have 1.317 billion, far higher than being "on pace" to reach those numbers.
  • rachael525rachael525 - Posts: 1,499 Senior Member
    Oh noes. How badly will this affect financial aid?
  • fireandrainfireandrain Registered User Posts: 4,737 Senior Member
    Rachael: According to Pres. Simmons:

    "FINANCIAL AID. The impact of the recession has been felt by most students and their families. In light of our commitment to meet the full need of our financial aid students, scholarship expenditures have increased. Given all the changes that have occurred since the FY09 budget was approved last February, we now expect scholarship expenditures to be almost $1 million more than planned and we anticipate a much greater impact in FY10 and beyond."

    Cuts are being made in other areas, but not in financial aid.
  • MiPerson80MiPerson80 Registered User Posts: 298 Junior Member
    it wouldn't hurt these kids to go on food stamps, maybe would help with the sense of entitlement I saw when I toured Brown (we had a very annoying Brown tour guide)
  • modestmelodymodestmelody Registered User Posts: 4,654 Senior Member
    ::rollseyes: @ MiPerson
  • MiPerson80MiPerson80 Registered User Posts: 298 Junior Member
    Schools like Brown need to be carefull with the tour guides and the attitude they project, after my son had the tour at Brown, we offered to go back that evening to look around the campus , he said, no, let's go home. Our son had the credentials to get accepted but with the low endowment, "attitude" we saw, the dumpy admissions lecture room, and the "pass/fail" grading.... we decided Brown was just getting by and would not even be in the top twenty unless it was in the Ivy leaque.
  • fireandrainfireandrain Registered User Posts: 4,737 Senior Member
    I'm sorry you had such a bad experience when you visited Brown. My daughter had similar reactions to great schools when she was searching -- not every school fits every kid. Many students (almost 25,000 this year) have a very different experience than you when they visit Brown.

    Brown's endowment might be "low" compared to Harvard, but in context with the 3000 other colleges and universities in the US, its endowment is at the very high end. The pass/fail grading -- which is optional and used very sparingly by most students -- encourages students to take classes outside their comfort zone. If you feel Brown is "just getting by" then I'm really glad your son didn't apply. He doesn't belong at Brown. I am sure he found plenty of schools that fit his personality and needs, and I wish him well in his application process. Just because your son didn't like the place doesn't mean you have to say nasty things about it and its students here.
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This discussion has been closed.