Open the Books is back in the spotlight today with another deep-dive report, this time looking into U.S. taxpayer subsidies, tax breaks and federal payments into Ivy League colleges.
Below are a few key findings from the report, titled: Ivy League, Inc.
1. Ivy League payments and entitlements cost taxpayers $41.59 billion over a six-year period (FY2010-FY2015). This is equivalent to $120,000 in government monies, subsidies, & special tax treatment per undergraduate student, or $6.93 billion per year.
2. The Ivy League was the recipient of $25.73 billion worth of federal payments during this period: contracts ($1.37 billion), grants ($23.9 billion) and direct payments – student assistance ($460 million).
3. In monetary terms, the ‘government contracting’ business of the Ivy League ($25.27 billion – federal contracts and grants) exceeded their educational mission ($22 billion in student tuition) FY2010-FY2015.
4. The eight colleges of the Ivy League received more money ($4.31 billion) – on average –…