<p>Sorry – I was not implying that that’s what Yale should do, nor is it what it needs to do. I was simply pointing out that while losing 25% is an obstacle, it is not an insurmountable one; a lot of good colleges have gotten by with a lot less than $17 billion, and if anything Yale’s brand equity is probably worth around the money that was lost. </p>
<p>Yale’s financial situation right now should not deter anyone from applying to the college, nor should it influence anyone’s decision as to whether they should go there. As the college has said over and over again, they are firmly committed to financial aid and unlike Harvard, the Yale undergraduate college IS the centerpiece of Yale University. The Yale financial aid policy right now is about five times more generous than it was two years ago, in Swensen’s hedge fund heyday, and Levin’s public promise not to freeze hiring (instead seeing it as an opportunity to grab important faculty that Harvard will miss) actually makes this a better time than ever to go to Yale.</p>