DALLAS (AP) - Some universities in Texas followed the national
trend during tough economic times with losses in their endowments.
The University of Texas System's endowment, the fifth-largest of
any university or college system in the country fell from $16.2
billion in 2008 to $12.2 billion in 2009.
The Dallas Morning News reported Friday that Texas A&M System's
slid from $6.7 billion to $5.1 billion.
Southern Methodist University in Dallas saw its endowment shrink
from $1.4 billion to $1 billion.
Endowment results were reported this week by the Commonfund
Institute and National Association of College and University
Texas leaders have asked state-supported universities to submit
plans to trim 5 percent from their state budgets.