@TPM posted:I was under the impression that many schools took hits on their endowments and some unable to recoup. Also schools can't dip into their endowments whenever they wish.
Anyone?
The vast majority of Stanford’s endowment is directed toward specific long-term uses, including need-based financial aid for students, and is not available to backfill an ongoing structural budget deficit in a specific department. In addition, while Stanford Athletics benefits from a robust community of generous supporters, their philanthropy simply could not cover the escalating costs of ensuring excellence across the board in our 36-sport model.