Trump’s new endowment tax hits elite US universities hard: Could it shut the door on lower-income applicants?
America’s most prestigious universities, including Harvard, Yale, and Stanford, are bracing for an unprecedented hike in taxes on their multi-billion-dollar endowments. A new law, signed last month by President Donald Trump as part of his flagship spending bill, replaces the flat 1.4% levy with a tiered system charging the wealthiest schools up to 8% of…

