Monday, April 28, 2008
The Hartford Courant reports that the Wesleyan University student government has created an endowment to reduce and perhaps eventually eliminate the annual activity fee charged to students and used to fund student groups. In what may be the first of its kind, the endowment will be managed solely by students, both with respect to its investments and its expenditures. This will permit it to be more responsive both to student concerns about possible investments and to student demands for help with ever increasing high education costs. That said, it will be many years before the endowment reaches a level where it will significantly reduce the $270 per student activity fee that provides approximately $750,000 a year. The Wesleyan Student Assembly plans to begin funding the endowment with its current year surplus, estimated to be between $25,000 and $35,000, and to dedicate future surpluses to the endowment. Expenditure of a small percentage will begin once the fund reaches $100,000 and increase to 4 percent per year once the fund passes $200,000.