"The presidents of Harvard University, Massachusetts Institute of Technology, and other prominent schools have written letters to Congress defending the tax-exempt status of their multibillion-dollar endowment funds.
Harvard’s president, Drew Faust, in a letter dated March 31, said the institution’s nonprofit status, which also applies to its $37.6 billion endowment fund, is critical to its success." …
Congress will never change the tax breaks. This is just populist nonsense from some Congressmen. Proof: there were NO sponsors for this legislation last time around. Waste of time really
Congress should act for the good of the country. Elite school grads are not more useful and the tax cost at these institutions can be 10 times higher than tax money spent per student at state u ( at Priceton about $100K per student vs at Rutgers $12K)
@Iglooo “for the good of the country”? You know what is good for the country? I think there are far higher priorities than this.
This is an interesting debate but it isn’t going to happen.
As for the survey you mention, I’m not certain what it is supposed to prove. The Ivy Group universities have very impressive placement records. Maybe recruiters do not “like” them, but they certainly flock to these universities like flies.
A high % of Ivy grads flock to investment banks, consulting firms, private equity, technology firms, etc. That is why large corporations tend not to like recruiting at Ivy (and comparable) schools…students from these “elite” schools tend to be far less interested in working at a large corporation than graduates of flagship and/or land grant public universities.
If you’re trying to fill entry level positions at 40-50K, you’d be foolish to set up camp at Harvard, Princeton or Stanford.