CNBC's Robert Frank reports on news regarding university endowments.
BreakdownGenerated by LeadStory AI
- A new bill will increase the tax on university endowments, creating three tax brackets. 13s
- Schools with endowments above $2 million per student will pay an 8% tax. 40s
- Major universities such as Harvard, Yale, Princeton, MIT, and Stanford are affected by the highest rate. 47s
- Schools with fewer than 3,000 students are exempt from the higher tax rates. 1m 8s
- A proposed exemption for religiously affiliated schools was removed, affecting institutions like Notre Dame. 1m 35s