Boston-area endowments decline - Leslie Ogden, Tufts Daily

Harvard has seen its endowment drop in value by billions of dollars. As the effects of the recession worsen, Boston-area universities are predicting grim losses in the value of their endowments. Boston University (BU), the Massachusetts Institute of Technology (MIT) and Harvard University expect their endowments to drop at least 30 percent by the end of this fiscal year, and Brandeis University has already seen a 25-percent drop in its endowment. BU implemented a hiring freeze last October, and officials are now expressing concern over the impact high tuition rates may have on enrollment for the school's incoming freshman class.