endowment--where money goes to never get spent but is a great tax free racket

[ucbalumnus]

@GMTplus7

Even if you divide by 21,000 total undergrad+grad students, that works out to $71k per year.

But then don’t those schools claim to spend over $90,000 per student per year? (Of course, whether all of that spending actually does increase the educational value to the students, as opposed to “extras”, is another story.)