This Is Higher Education’s Gilded Age
Michael Bloomberg announced in November that he was making a gift of $1.8 billion to his alma mater, the Johns Hopkins University. For the fiscal year ending in August 2017, Stanford University raised $1.13 billion, after raising $1.63 billion two years earlier. Within the past few years, Harvard University has received gifts of $400 million, $350 million, and $200 million. Applications are up, and acceptance rates down, at the nation’s most selective colleges and universities, as the number of students applying for early admission there continues to climb.
Originally published: February 3, 2019
Author: Brian Rosenberg
Institution: Macalester College
Published by: The Chronicle of Higher Ed