Harvard's endowment is worth $40 billion—here's how it's spent. (via CNBCMakeIt)
of the school's annual operating budget is covered this way. The remaining costs are covered by a combination of sources including student income and donations made directly to the school, as opposed to those made towards the school's endowment.states that 30% of endowment spending is flexible, while the remaining 70% is allocated to various costs.
, "the two largest categories of funds support faculty and students, including professorships and financial aid for undergraduates, graduate fellowships, and student life and activities."toward financial aid, including roughly $175 million in need-based aid for undergraduates.that about 70% of Harvard students receive some form of financial aid, and 55% of Harvard students receive need-based scholarship aid with average grant totals around $53,000.
. With such a large number of graduate students, it is unsurprising that the school uses some of the funds from its endowment toward this student population. Fellowship amounts and totals vary by department and program, but students can search and apply for Harvard's graduate fellowships using the school'sAdditionally, many schools — including Harvard — see their endowments as a way to assure that they will remain in operation for years to come.
in 2018, Harvard's endowment was worth $39.2 billion, and the school used $1.8 billion from the fund to cover the University's costs. According to, "At that spending rate, and assuming inflation of 2%, the endowment will have to generate a return of 7% a year just to maintain its value in today's dollars, or 2.5 percentage points a year more than it generated over the last decade.
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