College endowments hit record values, and maybe ire of lawmakers

BROWN UNIVERSITY'S ENDOWMENT grew to a record $3.8 billion. This year, the school was not alone in posting record endowment funds. / COURTESY BROWN UNIVERSITY
TYPIFIED BY SCHOOLS FOR HIGHER-LEARNING such as Brown University in Providence, shown above, credit ratings firm Fitch noted that Rhode Island's economy is "weighted toward education and health services." / COURTESY BROWN UNIVERSITY
NEW YORK - Harvard University’s $39.2 billion endowment has reached a record value. So did Yale. And Brown. And Dartmouth. As many wealthy United States universities report bulging assets and strong investment gains for the latest fiscal year, the timing isn’t ideal. Their fat coffers may draw the ire of lawmakers, some of whom view schools…

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