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Harvard has a $53 billion endowment. That’s a little less than the annual budget of the state it’s in. But still the wealthy woke uni is crying poverty over what it calls “substantial financial uncertainties driven by rapidly shifting federal policies.”
Those are weasel words since what Harvard is really worried about are administration cuts driven by wasteful fake research spending and crackdowns on tolerance for campus antisemitism.
And Harvard has good reason to be worried about both of those things.
Harvard has the money to persevere, but instead, it’s pausing staff and faculty hiring “until we better understand how changes in federal policy will take shape and can assess the scale of their impact.”
If Harvard really wanted to save money though, it would shed some of its 7,000+ administrators.
“At Harvard there are approximately 1.45 administrators for every academic employee and 3.09 administrators when considering only faculty, combining for a total of 7,024 total full-time administrators in 2022–only slightly fewer than the undergraduate population.”
Imagine how much money firing 6,000 administrators would save?
I always liked Savage on the radio even when something he said would cause me to raise an eyebrow.
My God, with that kind of money, why don’t these hugely endowed places pay off the loans of their students themselves? Make it a clean slate, and people could start over, hopefully avoiding the previous mistakes.
They were the ones that encouraged students to take those loans in the first place
Maybe Harvard needs to get back to the meaning of why is was created for in the first place
Harvard has an endowment greater than the GNP of some nation states. Why are they getting any federal money? Why should they not bear the risk of giving and the guarantee of student loans? I would suggest that if they did tuition would drop.
Times are tough for your opulence Harvard. You may now pound sand in the corner you made for yourself.
I thought Harvard Business School, and its marketing courses, were supposed to have a high-falutin reputation.
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Add this to the many other episodes in Harvard’s history in which anti-Semitism got the better of it…..and made assholes of its professors, students, and other cranks.
Someone suggested that universities with large endowments handle loans to their students themselves, with that endowment money.
I’m so sorry to hear Harvard is having a hiring freeze. Oh, wait a minute. No I’m not. Harvard richly deserves all that is coming to it.