NYTimes Reports on Student Endowment

We’ve already covered the plans for the WSA’s new entirely student-run endowment, but I feel it’s worth mentioning that the New York Times is covering for tomorrow. Seniors Hilary Moss ’08 and Matt Ball ’08 are quoted. Check it out:

THE good news for students and their parents facing high tuition bills is that the student government at Wesleyan University voted last month to establish an endowment to reduce costs at the liberal arts university in Middletown.

Wesleyan’s student endowment, which will be created with surplus from the activity fees paid by all students, may be the first of its kind, according to university officials and higher-education experts.

It will be several years before the fund provides even a small income. The endowment is structured so that the students cannot start drawing from the fund until it grows to more than $100,000. At that point, the student government can draw up to 2 percent a year, with that percentage increasing as the fund grows.

Matthew Ball, who is president of the student assembly, proposed the idea of investing the surplus to create an endowment that could be used to help offset fee increases for students. Eventually, the endowment could provide enough money to finance all student activities, eliminating the annual cost to students.

It’s good to see some more positive news coverage! Woooo. Now we’re portrayed as fiscally and socially responsible… instead of just “spoiled brats” who party too hard.