Food for thought! Nice business!
"The federal government provides enormous subsidies to the wealthiest universities in the country. During fiscal year 2022, Ivy League universities received $1.8 billion for overhead on government-funded research grants. That represents 84 percent of the total amount of government subsidy those universities received. For every dollar Ivy League universities receive for research, they charge the government an additional 64 cents, on average, for overhead. This funding is clearly a subsidy, because it is almost entirely fungible and unaccountable. The government can curtail nonsense, save taxpayers money, and reallocate research subsidies more evenly throughout the country by eliminating and capping research overhead funding for the wealthiest universities.
KEY TAKEAWAYS
- The federal government provides enormous subsidies to the wealthiest universities by paying “overhead” on research grants.
- During FY 2022, Ivy League universities received $1.8 billion for overhead on government-funded research grants despite having $192 billion in endowment funds.
- Taxpayers should not pay for building the research infrastructure at wealthy universities that already have sufficient private funds for that purpose.
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