Iowa’s Grinnell College for years was in an enviable position. Bolstered by Warren Buffett’s guidance decades ago, the tiny liberal arts school has grown its endowment to $2.7 billion, helping fund one of the most generous financial-aid programs in the country.
That success is now a problem.
The draft tax bill released by House Republicans this week proposes significantly raising taxes on private universities — with levies based not on the size of the endowment, but on the amount per pupil. That would hit not only the elite schools that have been under scrutiny by the Trump administration, but ...
