“Yale has a huge amount of wealth and power in their endowment”
This group is called the ‘Yale Endowment Justice Coalition’ and a quick review of their website reveals their politics.
Inside Higher Ed reports:
Will Colleges Tap Large Endowments During Pandemic?
The Yale Endowment Justice Coalition is calling for Yale University to help ease the economic burden of the pandemic on students, faculty, staff and the surrounding city of New Haven, Conn.
The group of students and New Haven residents is focused on the university’s $30 billion endowment, which is the third-largest endowment in the country behind Harvard University’s and the endowment for the University of Texas system, according to recent data from the National Association of College and University Business Officers.
Coalition leaders are asking the university to freeze rent collection on all university properties (the university has already stopped collecting rent on some, the group said) and to make unoccupied housing available to New Haven residents who need a place to social distance, among other requests.
“Yale has a huge amount of wealth and power in their endowment,” said Alex Cohen, a junior math student at Yale who has studied the university’s endowment spending. “It’s a tremendous amount of power to help people in the Yale community.”
So far, Yale has not indicated it plans to increase its endowment spending rate in response to the pandemic, Cohen said.
In a letter to students, Yale president Peter Salovey said that though the university will not increase its rate of spending, it will be pulling a greater portion of the endowment as its value decreases.
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