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Where Did the $58 Million Go?
As we’ve mentioned before, the College has the fourth highest endowment/student in the Ivies, coming after Princeton, Harvard and Yale. But rather that looking at HYP, let’s continue our comparison of Dartmouth and Brown. I keep referring to Brown because the structure of that school (ratio of undergrads to grads, number of professional schools, etc.) is closest to the College among the Ivies.
Last year we drew $183,816,000 from the endowment to fund the College’s ongoing operations:
Given that there are a total of 6,342 students at the College, that works out to be a draw of $29,984/student.
Brown was able to draw only $125,858,000 from its endowment in the same time period.
Given that there are a total of 8,619 students at Brown, the draw was $14,602/student.
Putting things another way, Dartmouth drew more from its endowment than Brown did in absolute terms: $57,958,000, and the difference on a per student basis was $15,382/student.
Where did all this money go? Certainly not to the College’s students. Tuition, room and board, and fees at the College in the fall of 2014 will be $61,947. Brown will only charge its students $59,428. That’s a difference of $2,519/year. Dartmouth students will pay 4.2% more for their education than the kids at Brown — a total of $10,076 over four years.
The faculty did not get its hands on the $15,382/student surplus either. According to the federal government’s authoritative Integrated Postsecondary Education Data System (IPEDS) data for 2011, not only does Brown have 35% more full-time professors than Dartmouth — as you would expect, given that Brown has 36% more students than Dartmouth — but Brown also pays its professors more than faculty in Hanover, by about 10% or so, depending on the level that the faculty member has achieved:
Certainly some Dartmouth professors out-earn their equivalents in Providence, but the overall figures are clear.
If the students and the faculty don’t enjoy the benefits of the endowment’s big payout, then who the heck does? I’ll leave that answer up to you.
August 14, 2013
Breaking: Of Crips and Bloods and Memories of Ghetto Parties
History repeats itself, first as tragedy and then as farce, or sometimes it just repeats itself. From the New York Times on November 30, 1998: At Dartmouth College, white students at a ”ghetto party” dressed…
June 25, 2013
Dean of the College Charlotte Johnson’s War on Students Part (2/2)
Today’s post again recounts the events that befell the Freshman. However, the content of the Hanover Police department report reproduced in this space yesterday is supplemented by information from my own interviews, a review of…
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…