Harvard University's admission that it lost $8 billion from its $36 billion endowment fund, as staggering as it sounds, may grossly underestimate the true magnitude of the losses.
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Writing separate but nearly identical letters to their respective communities, countless college presidents across the county have recently admitted: "We're out of money."
CAMBRIDGE, Mass. — Harvard officials say the university's largest-in-the-nation endowment lost about 22 percent of its value, or $8 billion, in ...
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