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Progressive Student Group Demands Yale Tap Endowment to Ease Economic Burden of Students and Staff

Progressive Student Group Demands Yale Tap Endowment to Ease Economic Burden of Students and Staff

“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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Comments

Hieronymous Machine | May 26, 2020 at 12:13 pm

Well, duh!

Counterpoint: “Justice.” You keep using that word. I do not think it means what you think it means.

    Hieronymous Machine in reply to Hieronymous Machine. | May 26, 2020 at 12:20 pm

    Ugh; sorry, wish I could edit. I forgot to add that, if those students were serious, then they’d willingly offer to “divest” themselves of some of their (“inconceivable!”) sums of financial aid. No? I thought not…

    Channeling the bursar of St. John’s College (Oxford): “I am not able to arrange any divestment at short notice, but I can arrange for the [air conditioning/electricity/wifi] to be switched off with immediate effect. Please let me know if you support this proposal.”

What part of “Other People’s Money” don’t the students understand?

Haha haha haha haha.
Yeah, right.
What hath Yale wrought?

Take should insist these dimwits take Economics 101.

    DSHornet in reply to Sally MJ. | May 27, 2020 at 9:26 am

    Or pay *their* own bills by holding down *their* job and writing *their* checks drawn on *their* bank account.

    Oh, wait …
    .

While I agree that universities should use endowments in offsetting tyranny-induced lack of revenue in order to maintain needed staff that actually have work to do on a class- & student-less campus, along with other true obligations that continue despite ‘lockdown’ I must question the mental capacity & emotional stability of these Ivy League students who cannot comprehend that at day’s end the University is, in fact, a business in existence to make money and that to allow use of facilities & resources without compensation, or provide free services other than those in support of the actual mission (education) not only flies in the face of logic and perhaps legality but could in the end diminish the University’s ability to provide said education & ancillary support. If they are among the creme de la creme then we are screwed.

On a side note, wonder if Yale University or Hospital would have any recourse in the courts against the ‘Coalition’ for use of the name Yale, as they’ve obviously no official capacity within the organizations. Having no classes and time to make demands they must certainly have calendar openings to answer to a lawsuit or two…

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