Richest U.S. Schools Could Lose Tax Status in Endowment ProposalBy
Draft bill mandates more endowment spending on tuition relief
Wealthiest 832 schools had $516 billion in endowments
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.
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