<p>Mia, I don’t think anyone is saying that the endowment covers over 40% of what it should cost to run a college-we are just saying it is. I would totally agree with you-all you have to do is compare how much the big-time schools spend per pupil versus good smaller colleges like Bowdoin or Davidson.
Problem is they are spending that much and someone or something is going to have to take a big shave.</p>