Although Harvard is often a trendsetter, it is not clear that manyother schools can afford to follow. Its endowment of $35 billion is thelargest of any university. Most other colleges rely heavily on tuitionand fees and can’t readily give up that income. There are more than 60colleges that have endowments that exceed $1 billion that ought to moveat least partially in the same direction.
Students attendingpublic colleges have also faced steep cost increases, in part becausestate governments have become stingier in providing support. Governorsand legislators ought to be ashamed if their flagship publicuniversities charge more than a high-priced private school like Harvard.
