Stanford cuts 11 of 36 varsity sports
- Thread starter edub72
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So can you help me understand what a $27B endowment is for? I got to think if you don't want to spend it because of prestige, or because it was endowed for a certain reason..... couldn't you make do with the interest off that huge amount? A 6% return on $27B is still over $200M a year - you can pay for a lot of synchronized swimming coaches and wrestling head gear with that.
For academics and investment to support the 15,500'ish stanford students (roughly 95%) that are on campus paying for an education, and who do not play a sport. None of Stanford's sports programs are particularly profitable. Eventually you have to make decisions to protect your bottom line.
Maybe preparing for the requirement to pay players in CA.
Money has to come from somewhere. Most schools just break even. Very few make money on sports. Not sure if it’s true, but at one time heard maybe top 18 programs make money enough to pay all sports.
add title 9, equal number of sports. Mean equal suffering.
Seems you pay players already with the coaching, travel, meals and training. Not to mention the full ride scholarship, books, tutoring and supplies.
Start diverting that school money for players and something has to go.
Money has to come from somewhere. Most schools just break even. Very few make money on sports. Not sure if it’s true, but at one time heard maybe top 18 programs make money enough to pay all sports.
add title 9, equal number of sports. Mean equal suffering.
Seems you pay players already with the coaching, travel, meals and training. Not to mention the full ride scholarship, books, tutoring and supplies.
Start diverting that school money for players and something has to go.
And I'm sure there are many Stanford students (non-athletes) who are not paying the full price. My understanding is that if parent's income is less than $65K then tuition, room and board is waived, if less than $150K then tuition is waived (other waivers may apply depending on situation), ...
Where does the money for these waivers come from? The endowment, obviously.
EVENTUALLY is the key word there. Sorry, if you cannot do simple math please go elsewhere. 27 billion if more than enough to give it a year or so before taking such action
Ya, I dont get what an endowment even is.... granted I am stupid but what is it for? I ask the kid that calls me for donations to my college that all the time and I have yet to get an answer....
My math skills are more than adequate. The 27 billion dollars is not earmarked for sports. The majority of it is invested, with the goal of guaranteeing the success of a borderline Ivy League academic institution, well into the future.
Stanford has zero profitable sports from my understanding. Their entire athletic department runs at an enormous loss to their institution. They have an enormous reliance on donor support to fun such extras.
It's a school considered with academics first. This decision only compounds that idea. And if anyone thinks administrators or trustees were going to take a pay cut (or forgo raises) in order to help them not trim a few sports, than you have a horrible understanding of the elite class of the nation.
The elite class as you put it clearly will not take pay cuts to bail out sports, but movements to online courses by many universities will eventually force reductions in numbers and or pay. The salaries paid to many of these professors in relation to work performed has morphed into mind boggling numbers, as has the tuition being charged to support same.
The vast majority of endowment money is donated for specific areas. It's not in the general fund. The donors decide where they want their money to go.
I looked for about five minutes on the internet and found an article from 2009 that said in 1974 colleges had 1.3 billion assignable square feet and a full-time-equivalent enrollment of 7.8 million students, equaling about 160 square feet per student. As of 2009 assignable square feet was estimated at about six billion, and there were about 13.2 million full-time students. That works out to about 450 square feet per student. That was 11 years ago - I think it would be safe to say assignable square feet/student has expanded in the last decade. We don't have to look beyond our own beloved university to know that an exorbitant amount of money has been spent expanding the school with only a moderate increase in enrollment. And it is not the cost of the building that weighs on a budget, but maintenance over decades. Stanford wanted to begin a 2.3 million square foot expansion in 2019 and now one year later they are cutting 11 varsity sports. I am calling bullshiiite. If you were that flush last year that you could entertain an expansion like that with the associated long-term costs it would create, but now suddenly you are cutting 11 varsity sports - something don't smell right in Palo Alto.
Pathetic. As if the virus or the economy will always be bad. A year from now nobody will even be talking about COVID.
Best thing for America is less professors! Most are soapboxing liberals with a message to silence free speech and hate rather than debate those with opposite political views.
I'd take that bet. We are 4 months in... 132k deaths so far.... I have a feeling people will be talking about it for years to come.
Thank you for understanding how it works. Some people act like Stanford has billions of dollars in cash, jewellery and gold bars burried beneath the campus, being guarded by a dragon... As if they can simply go down as grab tens of millions at a time and dump it into sports that return almost ZERO revenue.
That money is tied up in long term investments, is earmarked for some of finest educational programs in the world, ensures that exceptionally gifted students who are lacking financially continue to have an opportunity, etc...
That will mean a lot to the coaches, their families, and the kids who went there to participate in a sport while getting a first class education that now have to look at transferring, or finishing up without the benefits of a participating in a sport. Those sports have been money pits for a long time and Stanford has not seemed to mind as they lined up for their 25th consecutive directors cup because of sports like synchronized swimming, lightweight rowing, and squash. My buddies kid who went their to wrestle is crushed.
I was referring to "the endowment" which supposedly cannot be touched. Most likely it would be tapped if the room the right people wanted it.
Yep. The ones that don't generate any money. The ones that wall love to watch are still very much in existence.
EXACTLY right. And I notice those supporting this seem not to want to get into details about how much those sports were costing per year. A few million? I posted they could give this a year and then see. But those that hoard their money and never use it whine and cry.
27B and what are they doing with it?
What is if for except to support the university?
ITS NOT THERE to look good and make money for the managers.
Someone clearly does not understand how endowments work.
Who is making excuses? Stanford is a University. A University is a business. The job of business is to make money and grow the business as much as possible.
The end.
So next summer when you're enjoying your day at the beach and there has been a COVID vaccine for 6 months, you and your family will be sitting around discussing COVID? I feel sorry for you.
Well, I dont know where or what we'll be discussing but much like people talk about history.... I would think 130k people dying in 4 months will go down in the history books? Do you not think it will?
You said no one will be talking about COVID in a year..... I think that is ignorantly wrong as it is a global pandemic...... people just dont forget about that stuff in a year.... I dont understand why that is confusing to you?
Also, please never feel sorry for me.
I doubt it will be a general part of most conversations in a year. Just like it is not now.
Perspective. Adjusted for today’s population, Spanish flu would kill over 2m Americans. We also had a WW going on. I don’t believe we cancelled anything. Seems more political and a sign of the times. Terrible? Yes. Should we act like we did then? Not sure. Is the cure worse than the cause? Individuals to decide.
well we went from "never be talked about at all" to not being in general conversations.... big difference.
got it... so you went from Never being talked about to now just not in general conversation?
hah, when that day comes, the beach will look and feel very very different!
especially if one has done all they could to help protect their family friends neighbors and fellow citizens!
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