“Excellence cannot be bought,
but it must be paid for.”
– PROFESSOR VAL FITCH
Each year, investment gains from the Endowment provide over 60% of the University’s operating budget. Last fiscal year, this amounted to roughly $1.4 billion in spending distributions from the Endowment.
Notably, the investment program’s strength has allowed the University to initiate and expand its pioneering financial aid program. Today, approximately 60% of students benefit from financial aid, and consistently strong investment returns have allowed an expansion of the aid program significantly ahead of increases in tuition. The University is able to admit students without regard to their financial circumstances, and its no-loan financial aid program makes it possible for students to graduate with little or no debt.