"Gang of Six" quietly working on a realistic budget deal

[PSCGuy]

You're basically saying that rich kids have a right to a world class education, and other kids can go to other schools.

Harvard and MIT are not the be all and end all. Most students can not go to Ivy League schools, because of academic performance, socio-economic background, and sheer luck at getting into an exclusive school.

 

[bankside]

So boston, roughly speaking, top research opportunities are self funded by the student body...

 

[BostonPirate]

You're basically saying that rich kids have a right to a world class education, and other kids can go to other schools.

Harvard and MIT are not the be all and end all. Most students can not go to Ivy League schools, because of academic performance, socio-economic background, and sheer luck at getting into an exclusive school.

did you read the volume of scholarships the endowments pay for?

More than 60 percent of Harvard undergraduates are receiving need-based scholarship aid this year, totaling $158 million, and two-thirds now graduate debt-free.


The only requirement that students need to get in to the university are outstanding accomplishments in primary and secondary education for undergrads, and for post grads, they have to show the same plus a batchelors degree earned in the same accomplished manner.

The standard is prior education NOT financial Backround.

So boston, roughly speaking, top research opportunities are self funded by the student body...

no. To pay for upkeep on the facilities they use their tuition funds. That is just one vital half of the research funds. The rest comes from the endowment.

Harvard has been around for a VERY long time. four hundred years, and as an entity has been investing in the markets and real estate, just to name a couple of things. Some money comes from Alumni wills. Government contracts to buy the researched technologies as well as some from the private sector contribute as well. For 400 years, Harvards best minds have been diversifying and expanding that endowment fund.

The number above is the 2008 fund interest payment. In the midst of the recession Harvards investment portfolio yeilded an 11 percent return of the principle. The eleven percent profit from its endowment portfolio amounted that year to....

Endowment (Fiscal Year 2008 ) - $27.4 billion

So that means in 2008, Harvards investment portfolio was valued at aproximately 300 Billion dollars.

That interest payment pays for all research costs that are not covered in general operating expenses.

heres a link to 30 top holdings and their values....

http://stockpickr.com/pro/portfolio/harvard-management-company/fundamentals/?page=3

 

[Knucklehead]

Something like that.

But I'd do something interesting: get a board of multi-millionaires with a proven record of investments in the stock market. Put them in charge of getting a good return for, say, a quarter of the SS fund. Catch: they have to toss a quarter of their own net worth into a fund that will be invested in exactly the same way as they invest the SS money.

What would motivate them to be involved in something like that? Do they keep any of the money the investments might earn?

Otherwise,what's the incentive for them to gamble with their OWN money?

 

[Kulindahr]

What would motivate them to be involved in something like that? Do they keep any of the money the investments might earn?

Otherwise,what's the incentive for them to gamble with their OWN money?

Why do people accept cabinet appointments?