<p>there is a difference between professional money maqnagement and your private expectations. The 15% figure is an average over the last 10 years and includes negative returns at and around the millenium. Most years were FAR greater than 15%. And most businesses wont even consider an investment that is anticipated to return less than 15%. Get your facts straight. I simply dont understand why anyone would defend increases in tuition or any tuition at all when a school is earning a billion a year on its endowment. It should be obvious that at 5 % or less (which includes your amounts spent in excess of tuition, including rapidly increasing administrators salaries and benefits) schools are not doing enough to defray tuiion expenses. There is no justification whatsover for increasing tuition and fees at 4-5 % per year or for using one student’s tuition to pay another’s financial aid.</p>