lite college presidents reacted to the Supreme Court’s decision banning affirmative action in college admissions on June 29 with near-universal disapproval. Princeton president Christopher Eisgruber said in a statement that the court’s opinion was “unwelcome and disappointing” and would make the school’s work to sustain and improve the diversity of its student body “more difficult.” Yale president Peter Salovey said he was “deeply troubled” in his statement.
Though higher education experts consider the idea of colleges refusing federal funding unrealistic, the fact is, many of the nation’s richest colleges—those with multibillion dollar endowments—could afford to forgo the small fraction of federal money they take in each year.
Declining federal money and increasing spending from the endowment is easier said than done. Many colleges limit endowment spending to 4% or 5% per year with a portion of each school’s endowment already earmarked for certain programs.
There is also some precedent for private schools rejecting federal funding. Hillsdale College, a Christian school in Michigan with a healthy $950 million endowment supporting its 1,500 students in 2021, proudly trumpets its independence from Uncle Sam, and several smaller religious schools like the Southwestern Baptist Theological Seminary and Grove City College do the same.
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