At a time when some schools have decreased their annual endowment spending, Princeton’s trustees voted to allow a larger increase in endowment spending than in past years -- about $100 million to be spent over the next few years.
One reason the school will spend more is because the undergraduate populationwill grow by 500 over the next decade, according to Bob Durkee, vice president and secretary of the university. Spending from the endowment will help fund construction such as dorms to house students, he said.
This article was provided by Bloomberg News.