January 30, 2016
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Jan 30, 20168:14Now PlayingNew data from 2015 shows just how much money, in the form of private donations, went to some of the top universities in the country. The numbers are shocking. Cenk Uygur and Ana Kasparian, hosts of the The Young Turks, break it down. Tell us what you think in the comment section below.
"College endowments may have grown last year by the smallest amount since 2012, as reported elsewhere on this site today,but institutions got some good financial news in the 2015 fiscal year: charitable contributions to colleges and universities rose to a record level, $40.3 billion, the Council for Aid to Education reports in its annual Voluntary Support of Education survey.
Even so, a small and exclusive coterie of institutions is disproportionately benefiting from donors' largesse. The top 17 colleges and universities -- less than 1 percent of the total universe of about 3,900 institutions -- accounted for more than a quarter of the contributions, $10.42 billion. And 60 colleges and universities, under 2 percent of all institutions, received $20.15 billion, half of the total.
The wealth gap in higher education is not a new story, by any means, but it is being fed, not closed, by the behavior of major donors.”*
Read more here
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