The Nation - News from May 20, 1988

Fifty of the wealthiest American universities lost an average of 13.1% of their endowments last fall in the stock market crash, the National Assn. of College and University Business Officers said. The group said the downturn came after an excellent year for the campus funds. The median total return on investments for 296 colleges and universities during the year ending June 30, 1987, was 13.9%, the group said, pushing the value of their endowments to $47.9 billion at mid-year.