MIT Warns of Loss From Funding, Grad Enrollment Drops

Summary

Janet Lorin reports on MIT's decline in federal research funding and graduate enrollment, along with the looming endowment tax that could cost elite universities like MIT, Harvard, and Stanford hundreds of millions per year. The discussion also covers Harvard's lagging endowment performance and leadership turnover.

• MIT reports a drop in federal research funding and graduate student enrollment.
• An increased endowment tax could cost MIT, Harvard, and Stanford up to $300 million annually.
• MIT is responding by lobbying, pursuing corporate partnerships, and increasing executive education and master's programs.
• MIT has announced library closures as part of cost-cutting measures.
• Harvard's endowment CEO earned about $6 million in 2024, with top earners totaling $25 million.
• Harvard's endowment returns have lagged peers recently.
• Harvard's endowment has seen significant management turnover over the past 20 years.
• Private equity is noted as an area that is not generating returns.