College is expensive, but there is one place in higher education where there's no shortage of money — endowments. Wealthy universities in the U.S. have a lot of purchasing power, and it's drawing the eyes of investors, activists and lawmakers.
if some schools have billions of dollars. Most schools only spend about 5 percent of their endowment every year. The rest is invested to grow the endowment even larger. And that's where things get complicated.
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