<p>wjb, Thank you for the clarification. I do wonder if the lax oversight of the Hedge Fund Industry has created a major problem for the Yale Model. Did the Hedge Funds magnify their upside gains with leverage and are now potentially facing magnified losses as the markets correct? If this is in fact the case, would Development Admits receive priority consideration in this years admission cycle?</p>
<p>spdeer: The status of its investment portfolio is not going to result in a change in Yale’s admissions or financial aid policies. From the budget letter linked at the top of this thread, here is President Levin’s commitment not to reduce financial aid:</p>