Market Crash Costs Fortune for UC

How bad has the Wall Street meltdown hit the University of California system? According to the Daily Californian, UC’s endowment shrank by roughly $1 billion in the third quarter, and the crisis ain’t over. The endowment now stands at $5.7 billion. UC officials tap into the endowment for student financial aid, medical and scientific research, faculty recruitment, and other services. By the way, can we just say we’ve really enjoyed reading the Daily Cal lately? A few weeks ago, someone called us a bunch of jerks for not paying attention to it, and he was right.

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