Princeton University Endowment Returns 11.7%
Princeton University Provost David Lee noted that the large endowment would help benefit students through financial aid and scholarship funding. According to Lee, Princeton’s “scholarship budget has grown to $121.4 million this year.” That’s about US$ 6 million more than the university spent on scholarships last year, according to tax filings made by Ivy League institution.
According to the university’s website and tax filings, during the 2012/2013 school year, roughly 4,400 undergraduate students received tuition scholarships totaling US$ 110 million, or US$ 25,000 per recipient. Tuition for Princeton runs US$ 40,000 per annum.
The endowment aims to spend between 4% to 5.75% of the endowment per year. The report noted that Princeton’s spending was well within those parameters.
Princeton doesn’t disclose specific holdings in its fund, but an announcement over the summer confirmed that the endowment didn’t hold any “direct” interests in weapon manufacturers. The announcement was made in response to a petition filed by university professors calling for a divestment of stock in such companies.
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