<p>Based on other bits of information I’ve gathered, I’m going to guess that Princeton’s endowment is actually between $13.5 and $14 billion today but the problem for all of these managers is that valuing the non-liquid assets (especially private equity) is very difficult.</p>
<p>I completely disagree with you in regard to financial aid. All of these schools (Princeton, Harvard, Yale and Stanford) have already made it clear that financial aid is a priority and will not be affected. The endowment losses will definitely not result in any advantages for wealthier applicants. Princeton’s application process has been “need blind” for a very long time and over 50% of this year’s first year class is currently on financial aid. That percentage is expected to rise next year given the economy and Princeton will continue to reach out to and accept students who cannot afford to pay any part of their college expenses.</p>