you man not want to count on uncle harvard to loan you money for an MBA..looks like international students are in a pickle..
From NY TIMES..
CAMBRIDGE, Mass. (AP) — Harvard officials say that the university’s largest-in-the-nation endowment lost about 22 percent of its value, or $8 billion, in the four months since the end of the last fiscal year.
The endowment was worth $36.9 billion as of June 30, the end of its fiscal year. The school has said its American stock portfolio and foreign equity portfolio had taken hard hits recently.
Harvard will have to take a “hard look at hiring, staffing levels, and compensation,” the university president Drew Faust and the executive vice president Edward Forst wrote in a letter informing deans of the losses.
They say the university should plan for a 30 percent drop in endowment value by the end of next June.
Mr. Forst told The Harvard Crimson student newspaper that the 22 percent estimate might be conservative because some university money is handled by external managers that have yet to report figures.