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College and University Discussion
Reply to "Sweet Briar College - closing!"
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[quote=Anonymous]This is awfully sad. Not the time to make fun of the place. Their endowment looked like $80+ M. But they owed $12M. And something like $55M was in restricted gifts that couldn't simply be spent-down on operational costs -- maybe they could have gone to court and sought cy pres orders to assume the restricted gifts as unrestricted, but that would have taken time and couldn't possibly have succeeded as to every dollar. So there they were with an endowment of $20M left, for 700 students on the books. Less than $30K per student. Very, very small for an relatively well-known private college. [/quote]
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