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Ivy League Schools Receive $41 Billion from Government in Six Years
According to a new report, Ivy League schools received $41 billion from the government between 2010 to 2015.
According to a release by the non-profit organization Open the Books, which seeks to increase government transparency by releasing documents revealing government spending, the eight Ivy League schools received $41 billion between the fiscal years of 2010 and 2015.
Some are arguing that the spending is particularly concerning considering that the eight Ivy League schools have excessively large endowments. In addition, universities pay no tax on investments gains on their endowments.
Spokespeople for the various Ivy League institutions defended the state funding.
"Since 2000, over 50 startups based on Yale inventions and located in New Haven have attracted over $5 billion in investment to New Haven and surrounding towns," Tom Conroy, a Yale spokesman, said. "Alexion, which employs 1,200 people in New Haven, is a prime example of Yale’s impact."
A statement from Princeton University attempted to justify the funding by explaining that it finances libraries, laboratories, classrooms, research and financial aid.
Lawrence Reed, the President of the Foundation for Economic Education, shared the report on his Facebook page, asking "I wonder how that might have affected their ideological diversity?"
Tom Ciccotta is a libertarian who writes about education and social justice for Breitbart News.