Interesting point. Before this economic downturn Lehigh was one of about 70 schools with an endowment of over $1,000,000,000. Endowments are down big time at colleges all over the country. Lehigh has historically been very conservative in handling it’s finances. I think it may be a result of the university’s initial endowment being wiped out in the early 1900’s when the Lehigh Valley Railroad (owned by Asa Packer) went belly up. Many schools are much more dependent on their endowment income to balance their budget. Only 15% of Lehigh’s budget comes from endowment income. By comparison 30% of Lafayette’s budget comes from endowment income.