I would propose a law for Congress to enact that any university that has an endowment in excess of possibly $100 million — and there are many, starting with Harvard with an endowment in excess of $46 billion — that any foreign “donations” to that university go directly to lowering student tuition costs across the entire student population.
For example, the University of Pennsylvania currently has an endowment fund of $27 billion. According to A Jan. 29 article from the Tennessee Star, Chinese communist donations were found to both the University of Pennsylvania and the Penn Biden Center:
“Now, reports surrounding a new book by Peter Schweizer, president of the nonprofit Government Accountability Institute, are underscoring the revelation that Chinese support for the school got significantly more generous after the Penn Biden Center for Diplomacy and Global Engagement opened in 2018. In the three years prior to the center’s launch, dollars from mainland China received by the university totaled roughly $15 million. In the three years following the center’s establishment, Chinese donations and contract payouts to Penn were around $60 million. The creation of the center coincided with Joe Biden becoming Benjamin Franklin Presidential Practice Professor at Penn, a position for which he reportedly received $900,000 in compensation.” Biden never taught one class.
Sixty million dollars is a lot of tuition, and the total from all foreign donations to Penn for the same time period was estimated at $258 million.
Any student contemplating college should investigate that college’s endowment and foreign donations and ask why, with all this free money, am I paying so much in tuition?
Craig Nichols
Findlay
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