The Endowment Conundrum: When Colleges Borrow from Their Future The idea of a college endowment is often romanticized as a never ending source of financial support.
However, behind closed doors, many cash strapped schools are turning to their endowments as a last resort, draining the funds that were meant to last forever.
Hiram College in Ohio borrowed over $47 million from its $56 million endowment, including money set aside for specific purposes by donors.