endowment

Definition

A university's investment fund that generates income to support operations, allowing wealthy institutions to claim poverty while sitting on billions. The size of an endowment often matters more for prestige than for actual student benefit.

Example Usage

Harvard's endowment exceeded $50 billion, yet they still raised tuition and laid off dining hall workers.

Origin

From Old French 'endouer' meaning 'to provide with property,' practice dates to medieval universities.

Fun Fact

If Harvard's endowment were a country's GDP, it would rank around 100th globally, ahead of several small nations.

Source: Higher education finance terminology

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