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Subscriber Special - Taxpayer Subsidy of Ivy League Wealth
"... these schools received $30 billion of taxpayer contracts, grants, direct payments, student assistance and tax exemption."
Source: OpenTheBooks.com | The Wall Street Journal
Fiscal Years 2010 - 2014
The Ivy League Doesn't Need Taxpayers' Help
by James Piereson and Naomi Schaefer Riley
Read the Wall Street Journal editorial CLICK HERE
In today's Wall Street Journal, James Piereson and Naomi Schaefer Riley highlighted our recent research of the eight Ivy League colleges.
"As of 2014, the eight Ivy League schools had 58,982 undergraduate students and total endowment funds on hand of $117 billion, according to a study from OpenTheBooks.com. That works out to $2,017,241 per student.
Yet between 2010 and 2014, these schools received some $30 billion of taxpayer contracts, grants, direct payments, student assistance and tax exemption. In other words, federal cash and subsidies over that time averaged nearly $102,000 per student."
Within their compelling Journal editorial, Piereson and Riley argue:
"Washington is effectively paying colleges not to spend their endowments. Americans worry about skyrocketing tuition, but federal funds are allowing schools to shift cash to new buildings and administrative salaries, while taxpayers take care of the students. Congress should pass a simple law to rectify the situation."
Please Read Today's Wall Street Journal editorial, The Ivy League Doesn't Need Taxpayer Help, CLICK HERE.
How will the Ivy League ever justify a public purpose for $30 billion in taxpayer subsidies and payments?
Stay tuned. We have a lot more Ivy League oversight coming soon at OpenTheBooks.com.
It's time to challenge the status quo. We have a moral obligation to STOP waste, fraud and duplication.
We anticipate the release of our complete study: 'OpenTheBooks Oversight Report - The Federal Subsidy of the Ivy League Colleges' over the next few weeks.
PS. Our new video describes how our data and technology can help you stop government waste! Watch it here.
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