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Today – Reuters reported a significant change in the spending plans of two of the countries richest universities, Yale and Harvard. Yale unveiled plans today to spend . . .

Today – Reuters reported a significant change in the spending plans of two of the countries richest universities, Yale and Harvard. Yale unveiled plans today to spend about 37 percent of its 22.5 billion endowment while Harvard plans to spend an additional 22 million of its 35 billion. The shift comes after a very productive fiscal year for the two money-making monoliths (Yale and Harvard reported endowment increases of 28 and 24 percent respectively) and as the spending habits of rich private universities receive increasing scrutiny from law makers in Washington. The non-profit College Board reported tuition and fees at public and private U.S. colleges and universities rising by more than double the rate of inflation, according to the article.