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Well-endowed – Rich schools beat average

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In higher education, it pays to be well-endowed.

The colleges and universities in New England with the largest endowments enjoyed the fastest growth in their endowments, The Wall Street Journal reports.

Schools with endowments of at least $500 million posted an average increase of 11 percent in the year ended June 30, 1999, the newspaper says.

The average increase in endowments for schools of the same size was 10 percent.

Endowments at New England’s 12 wealthiest schools grew to $34.6 billion from $31.2 billion, the Journal reports.

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