I know little of the way medical schools operate, why and to what degree does Harvard Med require disproportionately large funding from the endowment?
The cost of attendance for all of Northeastern's undergraduate students for one year is 137% of its endowment, while for Harvard, it's cost of attendance for all of its undergraduate students for one year is, rounding up, 2% of its endowment [1].
It's completely unfeasible for NU to give out free tuition, they'd be in the whole for 100s of millions of dollars. Harvard, on the other hand, could take 2% of its endowment to pay for its students and still have 9% [2] of growth (that's nearly 2.5 billion dollars) to spend. Even if we assume the dismal 5 year average return (which includes 2008-2009's economic shitfest) Harvard would still have 3% or about 700 million dollars of growth to spend (which is to say, their growth is equivalent to Northeastern's endowment).
I could not find any figure on the amount of money which disappears into Harvard Medical school, but if you could dig up those statistics, then we'd be able to see what sort of growth Harvard's endowment would need to maintain.
That said, Northeastern's endowment is hopelessly small, while, with Harvard's endowment, it seems feasible to pay for undergrads, unless Harvard Med's net losses are more than 2.5 billion dollars (or, more reasonably 1 billion dollars).
edit: add "137% of endowment" to 2nd P, remove obviously "It's obviously completely" from 3rd P, note that NU's endowment is about equal to Harvard's growth over a really bad five years, and formatting
The cost of attendance for all of Northeastern's undergraduate students for one year is 137% of its endowment, while for Harvard, it's cost of attendance for all of its undergraduate students for one year is, rounding up, 2% of its endowment [1].
It's completely unfeasible for NU to give out free tuition, they'd be in the whole for 100s of millions of dollars. Harvard, on the other hand, could take 2% of its endowment to pay for its students and still have 9% [2] of growth (that's nearly 2.5 billion dollars) to spend. Even if we assume the dismal 5 year average return (which includes 2008-2009's economic shitfest) Harvard would still have 3% or about 700 million dollars of growth to spend (which is to say, their growth is equivalent to Northeastern's endowment).
I could not find any figure on the amount of money which disappears into Harvard Medical school, but if you could dig up those statistics, then we'd be able to see what sort of growth Harvard's endowment would need to maintain.
That said, Northeastern's endowment is hopelessly small, while, with Harvard's endowment, it seems feasible to pay for undergrads, unless Harvard Med's net losses are more than 2.5 billion dollars (or, more reasonably 1 billion dollars).
[1] http://www.wolframalpha.com/input/?i=(harvard+tuition+*+harv...
[2] http://cdn.wds.harvard.edu/hmc/2010_endowment_report_10_15_2...
edit: add "137% of endowment" to 2nd P, remove obviously "It's obviously completely" from 3rd P, note that NU's endowment is about equal to Harvard's growth over a really bad five years, and formatting