Even as college applications surge, a number of institutions are in financial jeopardy.
Higher education endowments take a hit
Although the investment performance for college and university endowments sank in 2022 overall, the losses were not shared equally across the board, according to a separate report by theColleges and universities with the largest endowments, or more than $1 billion in assets, performed better than smaller schools with less than $25 million, which were the weakest performers, posting average returns down 11.5%, compared to an average loss of 4.5%, the report found.
"The largest endowments are able to support their schools a little bit more," Reynolds said. "These colleges are continuing to attract students through scholarships and that makes them more competitive." That means other schools will only continue to struggle, Lakhani predicted. Going forward, "more colleges will either close departments or shut down."
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