Colleges and universities need a lot of money to operate—and how they get that money is complicated as wealth disparity in higher education is massive. Five schools—Harvard, Stanford, Yale, Princeton and the University of Texas—make up a quarter of the U.S.’s 839 billion endowment dollars. So how do smaller institutions afford to stay afloat?

Former Northwestern President Morton Schapiro breaks down the finances and shows how university funding has changed in the last few years and what that change means for the future.

Chapters:
0:00 Wealth disparity
0:55 Endowment
3:14 Tuition
5:23 State appropriations
8:01 What’s next?

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