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Last updated 9:10AM ET
March 1, 2021
Alabama
Alabama
UA System Included in Congressional Endowment Probe
(2008-01-31)
(APR - Alabama Public Radio ) - The University of Alabama System will be included in a congressional probe asking colleges to explain their investment policies and whether they are pursuing corresponding efforts to make college more affordable for students.

The three-campus UA system endowment has about $1 billion in tax-exempt funds. Only schools with at least $500 million in their endowments are being asked to participate in the congressional survey. No other campus in Alabama made the list of 136 U.S. colleges.

UA System Chancellor Malcolm Portera told The Birmingham News in a story Wednesday that university officials are compiling survey answers. Their response is due in about a month.

A new report from the National Association of College and University Business Officers showing an average 17.2 percent growth in college endowments from 2006 to 2007 prompted the Senate Finance Committee to start the survey. The UA system reports $999.8 million in its endowment through the 2007 fiscal year. That's up 17.8 percent from 2006.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
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