Massachusetts Lawmakers Are Looking….

at imposing a 2.5% annual fee on any college or university in the state that has an endowment of over 1 billion bucks. The lawmakers say that the super sized endowments undercut the non-profit status they have. They are looking to get at least 1 billion bucks a year from this idea.

I do not like this idea at all, but lets looks at the data…..

If they collect just 1 billion a year from this they can give 50,000 college students a year who are Massachusetts residents 20,000 bucks a year to college or provide free tuition for all Massachusetts residents who go to a community college in the state.

That is if they only spend the collected money on college tuition.

One other thought…

If the college endowment lost money for the year, do they still collect the 2.5%???