Colleges ask alumni for endowments and other donations. In some cases, the colleges and universities create massive investment portfolios. Ostensibly, the money exists to enable education of the students. Realistically, the colleges spend more on managing the money than they do on managing the students. At some of the wealthier colleges, as much as four times as much money is spent on fund managers as is spent on scholarships; thereby challenging the stated missions and goals of the organization. The colleges acting more as financial rather educational institutions, all of which is happening as student tuition and debt increases. If the institution is more interested in profit than instruction, then the tax status of the institution can be challenged.
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