FORT WORTH, Texas — While colleges and universities slash budgets in the face of historic losses, a common echo on every campus rings, “Use the endowment!”
Stanford University, with the nation’s fourth-highest endowment at $26.4 billion, cut 11 sports from its athletic department.
TCU, with an endowment of $1.7 billion, has scaled back benefits for employees, and high-ranking coaches and administrators have taken pay cuts.
