A University President Responds to Those Who Have Suggested the School Should Dip Into the Endowment Think of the modern university, not as an educational institution with an endowment, but as an endowment that happens to occasionally educate a small number of people. https://www.mcsweeneys.net/articles/a-university-president-responds-to-those-who-have-suggested-the-school-should-dip-into-the-endowment