THE SAN FRANCISCO GLOBE
May 20, 2014
Dear University Alumni Office,
I’m sorry to hear that the university’s $750 million endowment has fallen in value to $500 million because of the recession and because your bank died. I’m also sorry to hear that you’re dealing with declining enrollment due to the fact that middle-class families are no longer willing or able to bet their homes on a $45,000-a-year higher education for their children. I really am.
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