Study examines U.’s tax-exempt status, proposes excise tax on U. endowment
Christina VosbikianThe University’s tax-exempt status generated more than $100,000 per full-time equivalent student in taxpayer subsidies in 2013, according to an estimate from a study from the Nexus Research and Policy Center. A full-time equivalent student is a unit that denotes either a full-time student or a number of part-time students whose course loads add up to a full course load. In contrast to the University, the figure was $12,000 per student at Rutgers,$4,700 per student at Montclair State University and $2,400 per student at Essex County College. The study, called “Rich Schools, Poor Students: Tapping Large University Endowments to Improve Student Outcomes,” recommends that Congress repeal the exemptions from taxation that very wealthy, private, not-for-profit educational institutions receive.