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ERIC Number: EJ828747
Record Type: Journal
Publication Date: 2008-Dec-19
Pages: 1
Abstractor: ERIC
Reference Count: 0
ISSN: ISSN-0009-5982
Modesty Can Be a Virtue for Endowments in Hard Times
Masterson, Kathryn
Chronicle of Higher Education, v55 n17 pA10 Dec 2008
While the wealthiest institutions are making headlines with announcements of hiring freezes or possible layoffs to cope with endowment losses in the billions of dollars, colleges of more modest means, like Widener University, are more dependent on tuition to pay the bills. They may actually find themselves in a less nerve-racking position as the market drops. Bigger endowments help pay for scholarships, endowed professorships, financial aid, and other things. But in a financial twist, the wealthier institutions may be feeling the bigger pinch. James T. Harris III, president of Widener University, explains this paradox. If an endowment grows, an institution may be tempted to use it more for operations and it may become dependent on it. This article takes a look at how Widener University and Temple University are using their endowments, how they are surviving the financial downturn, and what they anticipate for the future.
Chronicle of Higher Education. 1255 23rd Street NW Suite 700, Washington, DC 20037. Tel: 800-728-2803; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A