Can you guess what Yale is not doing with its $24-billion endowment?

From The American Thinker Blog:

Last year, Yale paid about $480 million to private equity fund managers as compensation — about $137 million in annual management fees, and another $343 million in performance fees, also known as carried interest — to manage about $8 billion, one-third of Yale’s endowment.

In contrast, of the $1 billion the endowment contributed to the university’s operating budget, only $170 million was earmarked for tuition assistance, fellowships and prizes.

Despite the success of its endowment, in 2014 Yale charged its students $291 million, net of scholarships, for tuition, room and board.

The article this is taken from supports legislation that would require schools with more than a $100-million endowment to spend at least 8% on education. That makes sense, given how much money these schools are hoarding.
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Do you think we need the government to form a "Student Financial Protection Bureau" to monitor the finances and spending of elite billionaire liberal schools? Naturally, such a board would have to be well-funded, perhaps by a modest 1% wealth tax on schools with endowments over $100 million. Do you think Elizabeth Warren would call this a progressive thing to do?

It would be nice, but i's not gonna happen.