Harvard’s Surplus May Be ‘High-Water Mark’

The population of college-bound students is on the decline. The cost of tuition is growing increasingly unaffordable for many families. And endowment returns are expected to decrease.  It’s enough to make even the richest university in the world sweat, a bit, under the financial pressure.  Harvard University ended the 2017 fiscal year with a $114 million surplus, $37 million more than last year, due primarily to money it saved by refinancing its debt, officials said on Thursday.