O when may it suffice?
Here’s a little glimpse into how an elite law school’s (Columbia) core revenue has changed over the past 40 years.
Core revenue: Effective tuition — sticker minus discounts — + expendable endowment income + unrestricted annual giving.
(This of course isn’t all of a school’s revenue, as it excludes research grants, auxiliary income, for example revenue from student housing that’s above cost, rentals etc.)
ALL FIGURES ARE STATED IN CONSTANT 2016 DOLLARS
1975:
Sticker tuition: $17,050 (2016$)
Effective tuition: $17.1 million (2016$)
Total students: 1,050
Endowment income: $7 million (2016$)
Annual giving: $1.5 million (2016$)
Total core revenue: $25.6 million (2016$)
Median US household income: $47,350 (2016$)
1995:
Sticker tuition: $32,720 (2016$)
Effective tuition: $40.5 million (2016$)
Total students: 1,350
Endowment income: $16.1 million (2016$)
Annual giving: $2.8 million (2016$)
Total core revenue: $59.4 million (2016$)
Median US household income: $52,730 (2016$)
2015:
Sticker tuition: $62,700
Effective tuition: $80.2 million
Total students: 1,460
Endowment income: $28.2 million
Annual giving: $5.9 million
Total core revenue: $114.3 million (2016$)
Median US household income: $53,347 (2014 figures)
Those of a statistically-minded bent can extrapolate out to when CLS’s bottom line is going to get to a billion. Just kidding. Maybe.