University endowments at alite universities keep getting bigger and bigger. They earn, weigh more on their endowment every year than they need to balance the books. Princeton is a perpetual motion cash machine. There is literally no way they can ever run out of money. If they wanted to build a half a billion dollar dormitory with marble staircases, mahogany floors and solid gold bathroom fixtures, they could pay for it out of petty cash and still bank 200 million dollars. That' wiggleroom.
Bowdoin College and Vassar College are two elite private schools that compete for the same students. But one of those schools is trying hard to address the problem of rich and poor in American society—and paying a high price. The other is making that problem worse—and reaping rewards as a result.
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