Loading ...Can you believe that universities with tens of billions in endowments were siphoning off 60% of research award money for “overhead”?
Last year, $9B of the $35B that the National Institutes of Health (NIH) granted for research was used for administrative overhead, what is known as “indirect costs.” Today, NIH lowered the maximum indirect cost rate research institutions can charge the government to 15%, above what many major foundations allow and much lower than the 60%+ that some institutions charge the government today. This change will save more than $4B a year effective immediately.
https://x.com/NIH/status/1888004759396958263
Harvard & Yale at the top of the “pork” list…….
I’m laughing, K2! The valid intellectual product from our most revered educational institutions couldn’t fill a thimble. There is a reason Russia’s military tech is generations ahead of Americas. There is reason China’s manufacturing sophistication is generations ahead of Americas. Our Universities are filled with a collection of academic whores who know nothing other than the way of whores. You get what you pay for!
How did it go so bad – so fast?
Been going on for decades. Large universities with huge endowments shouldn’t receive any money from the government. If they do research that proves valuable, the private sector will partner with them and both parties will benefit economically.