I knew that Federal Research grants were a significant source of income to universities but I didn't realize just how much. From FOX News:
Critics to Ivy Leagues: 'Taxpayer gravy train needs to end'
Over a six-year period, Ivy League schools have received tens of billions in tax dollars, bringing in more money from taxpayers than from undergraduate student tuition. In fact, they received more federal cash than 16 state governments.
The stunning numbers are all part of a new report, first seen by Fox News, released Wednesday by Open the Books -- a non-profit group whose stated mission is to capture and post online all disclosed spending at every level of government.
The 43-page report shows the massive amount of money flowing into not-for-profit Ivy League schools, including payments and entitlements, costing taxpayers more than $41 billion from fiscal year 2010 to fiscal year 2015.
A bit more:
The study says another federal perk -- the schools pay no tax on investment gains on their endowment -- a tax break is estimated at $9.6 billion over the six years of the study.
And some of the studies that were funded:
One grant was given to Cornell for nearly $1 million to study whale presence in the Virginia offshore wind energy area. Other grants to Ivy League schools were to study college binge drinking, ethics in Tanzania and sex chromosomes in turtles.
They provide a link to download a PDF of the report - sobering!
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