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[quote=Anonymous]As a Harvard alum, I applaud the thought of having a tuition free school. The cost for Harvard would be $308 million annually, out of an endowment of $36 billion. The next largest endowment is Yale at 25 billion and their cost would be 258 million per year. Stanford ( 22 billion @ cost $322 million) and Princeton 22 billion@ cost $233 million). UT has an endowment @24 billion, but many more students. I doubt any other school could do this: eg Columbia 9 billion at a cost of 316 million). Obviously college costs have reached unbearable heights and something needs to be done, but the Harvard solution can only be offered by a select few. The lion share of endowments come from alumni; hence the legacy preference. To pay for this largess, all the above colleges would need to rely even more on alumni donations. Thus legacy preferences would probably be even higher than they are now.[/quote]
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