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Princeton University president says endowment pressures require ‘tough choices’ but pledges continued town partnership
Summary
University President Chris Eisgruber told Princeton’s mayor and council that lower long‑term endowment returns and rising costs mean the university must make difficult budget choices, but he emphasized commitment to campus–town collaboration on housing, transit and public safety.
Chris Eisgruber, president of Princeton University, told the Princeton Mayor and Council on March 23 that the university faces sustained fiscal pressure and is making budget adjustments while seeking to preserve affordability and key partnerships with the town.
Eisgruber said the university’s long‑term investment returns have declined and that, under Princeton’s spending policy (roughly 5 percent of endowment distributions plus inflation), the university needs about an 8 percent average annual return “at a minimum” to maintain its current financial commitments and support student aid, salaries and capital projects. “We calculate that, we need to be able to generate 8% on average annual returns at a minimum to basically stay in equilibrium,” he said.
The president outlined recent…
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