Even before the crisis, endowment returns and payouts had been comparatively low. “The timing of this particular situation is difficult because a lot of us are going through a budget process,” Heck said. “So suddenly we’re dealing with a lot of very negative investment returns just as we’re planning a budget.”
https://hechingerreport.org/already-stretched-universities-now-face-tens-of-billions-in-endowment-losses/
