Oops! Graduate giving rage = Graduate giving rate! LOL
Have not read all 40 entrees here, but would like to raise the high costs issues driving STEM education.
Technology is moving so fast that the costs of labs and research facilities is pushing costs as never before. My small alma mater jumps from one $60 lab/building project to another $80 project every two or three years. LA Colleges do not have to compete with Microsoft, Apple and DuPont for PhD’s in Chemical and Robotics engineering to teach.
Why?
The 1/2life of technology and laboratories is very short so Adam Smith’s “hand” is pushing this problem as never before. Major endowments and loyal alumni can help!!
I am somewhat familiar with large University projects, including the planning stages before they are approved. In most cases, debt financing is what is used, even when the University has a large enough endowment. A large endowment can help a given university secure more favorable terms, of course.
Exceptions to this method are when a large donation is given specifically to build/upgrade a facility.
Sorry to be that guy, but #18 should be Centre, not Center. Centre is a very fine LAC in Danville, KY.
@Hapsworth, you’re absolutely right. I’m pretty sure that’s an “autocorrect typo”!
Thanks for the insight.
It appears from my university’s construction drives that large donators are packaged with specific building projects to make it happen so it is not really taken directly from from endowment. This makes good sense when viewed as endowment preservation which clearly is needed. These focused projects should also build pride (and more donations) among less “endowed” alumni.
Endowments definitely impact the student experience. Compare Grinnell ($1.2 million per student) with Carleton ($417,000 per student). Similar schools, but the impact of Grinnell’s larger endowment stands out in several ways:
- Facilities
- Research opportunities
- Student travel opportunities (to conferences and class travel)
- Merit aid (Grinnell) vs. no merit aid (Carleton)
- Need blind admissions (Grinnell) vs. need aware admissions (Carleton)
- Student economic diversity (Pell Grant recipients: Grinnell - 19%, Carleton - 14%)
Another important endowment impact for students is the ability for need based aid to remain fully intact in the event of a large market downturn.
Yet USNews ranks Carleton at #7 and Grinnell at #14, Forbes has Carleton at #52 and Grinnell at #80. Its Grateful Grads index ranks Carleton at #14, while Grinnell comes in at #58. Niche has Carleton at #5 for LACs and #32. overall while it puts Grinnell at #25, for LACs and #69 overall. Niche’s ranking for college value has Carleton at #30, Grinnell at an abysmal #219. The Wall Street Journal ranks Carleton at #40 and Grinnell at #57.
Clearly money can’t buy you love.