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Premier Travel
1011 Harlow
,747-0909
I'Student Travel Expefts
BY ED RAGOZZINO
A comprehensive
Workshop/Seminar
designed for individuals
who are interested in
developing their potential
as voice talent for radio
& television commercials.
Set for the evenings of ,/
May 18 & 19 (/j
Information & Registration
687-2937
Limited Enrollment f—
eiuify
SPAGHETTI
(Si garlic bread
$35°
Every Tuesday
PIZZA
PETE’S
2506 Willakenzie 344-0998
flocic PIoto
2673 Willamette 484-0996
27th and Willamette
FUJICOLOR
Ip H 0 C E S S I II G. I H c I
PHOTO
SPECIALS
May 16 - May 22
REPRINTS AND
ENLARGEMENTS
From full-frame, 35mm color
negatives.
3x5 6 for 96$
4x6 5 for $1.00
5x7 2 for $1.50
8x10 1 for $1.50
8x12 1 for $1.50
Please allow up to 3-5 working
days for 3x5 and 4x6 prints, 5
10 working days for 5x7, 8x10 and
8x12 prints.
UOBookstore.com
UNIVERSITY OF OREGON
BOOKSTORE
Advertise in the ODE classifieds.
Call 346-4343
or place your ad online at
www.dailyemerald.com
Number of billionaire schools hits 47
BY JUSTIN POPE
THE ASSOCIATED PRESS
NEWTON, Mass. — Crossing the
main quad at Boston College,
visitors can’t miss the billion
dollar view.
There is Higgins Hall, the recently
renovated science center, with its
pricey, Gothic exterior. Behind it sits
a new, $41 million office building,
complete with coffee bar.
“I don’t think you can ever over
invest in higher education,” said the
Rev. William Leahy, BC’s president.
With a $1.15 billion endowment,
BC can invest a lot: The school is in
the stratosphere of wealth in
American higher education.
But the stratosphere is getting
crowded.
Forty-seven U.S. colleges and uni
versities now have endowments of
$1 billion or more, compared to 17 a
decade ago, according to the National
Association of College and Universi
ty Business Officers. Harvard alone
has $22 billion, nearly $10 billion
more than No. 2 Yale.
The billionaire schools have
amassed their wealth through savvy
fundraising, shrewd investing and
generous tax laws, and they are the
envy of the world. Outside the Unit
ed States, only England’s venerable
Oxford and Cambridge are in the
same financial class.
In this country, $1 billion has be
come a benchmark, a point beyond
which schools can stop worrying
about the day-to-day and dream big.
To shed light on how these
schools are using their unprecedent
ed wealth and why they still cost so
much to attend, The Associated
Press analyzed thousands of num
bers collected by the federal govern
ment and college guidebooks ovei
the past decade.
The AP found an increasingly
varied mix of private and public
schools in academe’s financial elite,
a group spending heavily on new
construction and aggressively
recruiting top faculty.
They also are a clique that can in
duce tuition sticker-shock as never
before: Despite tripling its wealth
over the last decade, the average
billionaire college has nearly
doubled its price. TUition and fees at
the average private billionaire
college hit $29,002 in 2004; at pub
lic universities in the group it
cost $7,230 to attend the typical
flagship campus.
A significant boost in financial
aid means many students aren’t
paying full freight, yet the costs
have provoked criticism that the
richest colleges should use more
money from their savings than they
do now — at most schools, about
5 percent per year.
Some also worry the wealthiest
colleges take too big a piece of the
financial pie.
The 47 billionaire schools possess
nearly two-thirds of the endowed
wealth in American higher educa
tion. They are indisputably engines
of life-improving research but, ex
cluding the branch campuses of bil
lionaire public schools, they edu
cate fewer than one in 25 American
undergraduates.
Each of the eight Ivy League col
leges is a billionaire, perhaps unsur
prisingly, as are other private
schools that wouldn’t be hard to
guess — Stanford, Duke, Chicago
and Notre Dame among them.
Yet there also are small liberal arts
colleges, such as Grinnell in Iowa,
and 14 public universities, up
from four a decade ago. The new
comers among public schools
include Ohio State, North Carolina
and Illinois.
A billion dollars goes a lot farther
at a small school than a large one.
Wellesley College, an all-women’s
school outside Boston, for instance,
ranks 39th on the endowment list
with $1.18 billion. Purdue Universi
ty is one slot higher with
$1.20 billion, but the Indiana school
has 17 times more students.
What all these schools have in
common is that — by American
standards, anyway — they’re old.
Their average age is 168, ranging
from 93 (Rice) to 369 (Harvard).
Colleges need decades, even cen
turies, to build a reputation, reap
the rewards of compounding invest
ment returns, and produce genera
tions of alumni who can be tapped
for donations.
Ask any president of a billionaire
college about the endowment and
you’ll get a lecture on how little
$1 billion really is: Spend too much
each year and there isn’t enough left
for the future. And many endow
ment funds are for specific purpos
es, from scholarships to professor
ships to landscaping.
That’s why the presidents
say their endowments can do
little more than put the brake on
tuition increases.
The AP’s analysis found tuition
and fees rose 63 percent at the aver
age private billionaire school over
the last decade, slightly less than
the increase faced by students at
four-year colleges nationally.
Of the 14 public schools on the
list, many still deal with state budg
et cuts and are more dependent on
tuition than a decade ago. Tliition
and fees at flagship campuses are
up 106 percent, compared with an
increase of 90 percent for students
at four-year public colleges
nationwide. That translates to an in
crease of $3,712 at the average
public billionaire.
It’s no surprise, then, that the
debt loads of students who borrow
to attend the billionaire colleges
stands above $16,000 at both the
flagship public universities and
private schools.
Still, for many, billionaire colleges
have become more affordable.
That’s partly because the percent
age of students receiving loans is
down and the percentage receiving
grants is up.
Private billionaires are meeting
almost all of what’s called
“demonstrated need” — getting stu
dents the cash they must have to
stay enrolled. Public flagship
schools are meeting 84 percent of
demonstrated need.
Princeton recently replaced loans
entirely with grants, and Yale and
Harvard eliminated tuition for stu
dents from low-income families.
Among public schools, the universi
ties of Virginia, North Carolina and
Michigan have recently implement
ed or announced more financial aid
for low-income students.
\ MomngGuide
On stands Friday!
Oregon Daily Emerald
The independent campus newspaper for the UO community
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Positions Available:
Legislative Affairs
I Educate and activate students for political action on state and federal issues related to students and
higher education.
Campos Outreach
Serve as ajiaison between the student body and the ASUO, in addressing issues of safety and
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university housing, as well as inclusion with student groups and University Committees.
Community Outreach
Serve as a liaison Jo the University and the greater community to develop programs and address
issues around students’ needs and concerns with the community.
Serve as a liaison to the University administration, faculty, staff organizabons, councils and committees.
Multicultural Advocate (2)
I Advocate for and develop programs addressing concerns of students of color, gay lesbian, transgender
and queer students, and other under-represented groups, and to be a liaison between these groups
and the ASUO.
International Student Advocate
Act as a liaison to international students and act as a resource for programs serving
international students.
Serve as a liaison between the University of Oregon’s Greek Community, including all ethnically,
culturally, and professionally based chapters, the ASUO, and the greater student body
Programs Administrator
Provide information and assistance to ASUO programs, and approve and monitor student programs.
Non-Traditio'nal Student Advocate
(Grad, Law, Returning Students and Student Parents)
Participate in addressing issues of concern to non-truditional students in conjunction with student and
University organizations, councils, and committees at the campus, local and state level.
Elections Coordinator
Oversee elections for student government, ASUO programs, and Family Housing.
Finance Coordinator
Work with the ASUO President and Vice-President to coordinate the ASUO budget process and
oversee expenditure of current ASUO program budgets.
Marketing Coordinator
Coordinate the Fall and Spring Street Faire, os well as create marketing plans and strategies for the
ASUO, develop fundraising projects for the ASUO Executive, and assist ASUO programs in their
fundraising efforts.
I Provide visibility and communications within and outside of the University community for all projects
and events in the ASUO, and act as the spokesperson for the ASUO.
Health and Women’s Advocate
To advocate for and develop programs addressing the concerns of self-identified women and areas of
student health, and to be the liaison between Women’s groups, the Student Health Center and the ASUO.
Environmental Coordinator
To advocate for environmental policies and programs on and off campus and to serve as a resource
for programs and administrators in adhering to such policies.
Applications available in ASUO Office (Suite 4 EMU)
Due Friday, May 20 by 5 pm
g An affirmative action/equal opportunity/Americans with Disabilities Act employer. (AA/EOE/ADA)