CHICAGO (CBS) — In the race for the White House tonight – in fact, in the race all week – the big issue has been college, the prohibitive cost of tuition.
At the universities of Illinois and Chicago and Northwestern, the average tuition is more than $30,000 a year. The politicians are all a-flutter about that.READ MORE: Elected Officials And Other Leaders Express Grief, Outrage Over Adam Toledo Police Shooting Video
Sorry, they say, they can’t help any more than they do. The universities are saying they can’t help more than they do.
But, oh yes, they can … if they want to. They can dig into their endowments, the money they stash away to invest on Wall Street.READ MORE: Adam Toledo Shooting: Slow-Motion Video Of Second Before Teen Was Fatally Shot
The U of I endowment is almost $2 billion; the U of C, more than $6 billion; Northwestern, $7 billion.
The schools kids dream about, but will never be able to afford, like Harvard and Yale and Princeton, total endowment is $70 billion that pays off an additional $13 billion a year in interest.MORE NEWS: Adam Toledo Shooting Video: Use Of Force Expert Says Close Look At Footage Shows Boy Holding Gun; 'The Barrel Of The Gun Was Shining'
Oh, those poor, poor, poor universities.