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Senate Critic Maintains Close Watch on College Endowments’ Spending

March 10, 2010, 1:14 pm

Though some major university endowments have increased their spending on students recently, scrutiny of such funds remains intense, The Chronicle of Higher Education reports.

And in a related story, Sen. Charles E. Grassley answers questions from The Chronicle of Higher Education, saying that the issue of endowment payments remains on his legislative “front burner.”

The Iowa Republican, a leading critic of spending by major nonprofit institutions such as hospitals and colleges, said in an interview that moves by endowments toward meeting “their societal obligations” and increased spending for students’ benefit have softened his stance on the issue, and he is not now pushing for a mandatory minimum payout.

But he added, “It doesn’t detract from my three- or four-year interest in the issue — basically that we want to make sure that universities don’t consider themselves storehouses for money.”

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