Now, schools with endowments worth $2 million or more per student are hit with a much steeper 8% tax. The new legislation also imposes a 1.4% tax for universities with endowments worth at least $500,000 per student, and a 4% tax for endowments worth at least $750,000 per student, according to a July 7 release from the The National Association of College and University Business Officers.
While Yale's endowment is by far the largest in Connecticut (and among the largest in the nation), it appears Wesleyan University will also be hit with a new 1.4% tax, as its endowment value per full time student just barely surpassed $500,000 threshold that triggers the tax, according to NACUBO's 2024 endowment value study.
The socialists will have to start paying their "fair share"...
