Al Schacht

This is getting funny!

Although, as far as I can tell, the university hasn't made an official announcement as yet, the Daily Princetonian has reported that the endowment reached $13 billion as of June 30, 2006, with the return on investment being 19.5%, which means that the amount of reinvestment is somewhere between $1,800,000,000 (that's billion) and $2,600.000,000 (we'll know the amount precisely when the Treasurer's Report is issued). In the face of this hardship the university has felt compelled to raise $7.2 million. To do it they increased tuition by 4.9%, well in excess of the national rate of inflation. If it were not for this tuition increase the endowment reinvestment would have been somewhere between $1,792,800,000 and $2,592,800,000, and of course to prevent such a catastrophe the university has had to turn to the students' families for financial assistance. The laugh buried somewhere in this absurdity is lost because the ball is loaded with Kenny Rogers' emulsion, is coming out of the shadows, and is high and inside.