[flavoredpork]

CMU has an extraordinarily low endowment. They were not hit as bad during the economic collapse and resulting recession.

[ScotterC]

They weren't hit as bad yes, but they suffer in many other ways from their small endowment. It's one reason why they have one of the highest tuition costs of any university.

[pilom]

Mayber they "were not hit as bad" in absolute dollars but their endowment was over $1 billion in early 2008. 20% seems like a pretty darn big hit to me.