A Rocky Stock Market Sent the Value of College Endowments Tumbling Last Year

A volatile stock market during the last half of the 2022 fiscal year put a sharp dent in the returns and market value of college endowments. According to the annual Nacubo-TIAA Study of Endowments, released today, college endowments had an average one-year return of -8 percent, net of fees, in the 2022 fiscal year. The steep decline from the year before — when endowments’ overall average return was an eye-popping 30.6 percent — shows the impact of external factors, such as inflationary pressures and the war in Ukraine.