[ren_engineer]

those endowments, especially for the Ivy League schools, aren't liquid at all. They'd take a massive haircut if they had to start pulling funds from it

[Marsymars]

Presumably they could go to a large bank and make a deal so that they only have to take a relatively small haircut by getting a loan to be paid back from endowment interest.

[hnburnsy]

If this is the case then they really are not for the benefit of students?