For all undergraduates, the average tuition discount rate in 2020-21 ticked up to 48.1 percent, a 2.2-percentage-point increase from the year prior, according to the study. During the 2019-20 academic year, the average discount rate for all undergraduates fell slightly from the year before, from 46 percent to 45.9 percent.
This year, NACUBO’s annual tuition discounting study is based on survey responses from business officers at 361 nonprofit colleges and universities across the country. The study defines the tuition discount rate for first-time undergraduates as the total institutional grant aid awarded to first-time, full-time undergraduates as a percentage of the gross tuition revenue an institution would collect if all students paid the sticker price. The formula for all undergraduates is similar.
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Harvard University’s endowment plans to distribute more money in fiscal year 2022 after recording strong annual returns, the school’s chief financial officer recently revealed.
“The stock market has been doing well, and hopefully it will stay that way,” Thomas Hollister said in an interview with the university-operated Harvard Gazette in late April. “A good stock market helps endowment results.”
He added that the Harvard Corporation, the school’s governing board, had planned to increase its distribution by 1 percent, but instead chose to bump it to a 2.5 percent increase in dollar value. (Harvard declined to comment for this story.)
According to industry experts, though, Harvard is likely an anomaly in its decision to boost payouts following the pandemic.
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Last Wednesday, David Swensen succumbed to cancer. He died as he had lived during the past 35 years, as the CIO for Yale’s endowment fund.
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Yale Chief Investment Officer Dies at 67
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Yale University’s chief investment officer, David Swensen, died Wednesday at the age of 67.
Swensen, who was diagnosed with cancer in 2012, is recognized as a pioneer in investing and endowment management. Several other wealthy universities hired talent from his Yale investment office to manage their own endowments, and a 2015
Wall Street Journalanalysis found that Swensen or one of his protégés controlled $1 of every $6 in U.S. higher education endowments.
Under Swensen, Yale followed what came to be known as the Yale model an investing strategy that reduced focus on stocks and especially bonds in favor of a diversified portfolio including alternative investments like hedge funds and real estate.