uCalgary endowment fund takes $78-million hit

January 12, 2009

University of Calgary officials have revealed that the institution's endowment fund has dropped $78 million in value since March -- equal to the last 2-and-a-half years' worth of donations to the endowments pool. No scholarships or other endowment-funded programs have been affected so far. Meanwhile, Mount Royal College's endowments have dropped 9% in value. MRC's president says the college has no intention of reducing scholarship amounts as a result. Calgary Herald | CBC