Indiana college endowments are making a long climb back from the recession, but the recovery has been slow and frustrating for schools facing budget cuts and pressure to limit tuition increases and provide more financial aid.
Endowments at the state's two largest public universities, Indiana University and Purdue University, rose above pre-recession levels by June 30, 2011, according to the National Association of College and University Business Officers. Purdue's climbed 15 percent, to $2 billion, while IU's inched up 2 percent, to $1.6 billion.
But performance at other schools varied widely, the Indianapolis Business Journal reported (http://bit.ly/TCjRyx
). Indiana Wesleyan University's endowment was 29 percent higher than it was in 2008, while Ball State University's was 26 percent lower.
"You see a lot of universities going all over the map," said Ken Redd, the association's director of research and policy analysis.