Richest U.S. Schools Could Lose Tax Status in Endowment Proposal

  • Draft bill mandates more endowment spending on tuition relief
  • Wealthiest 832 schools had $516 billion in endowments

Columbia University in New York.

Photographer: Daniel Acker/Bloomberg

A U.S. Congressman is floating an idea that’s likely to find opposition from the wealthiest colleges: devote 25 percent of a school’s annual endowment income for financial aid or lose tax-exempt status.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.