Invest University Endowment?
I recently asked about the possibility of starting an undergraduate fund from part of the university endowment. Apparently, it's a pretty common thing. However, my school doesn't have one. How would I go about starting one?
Get in touch with influential alumni. Thats how we got started.
I go to a nontarget so I'm not sure if there are that many, if any, prominent alumni willing to give us money.
There are rich grads from every school-especially if you go to a big nontarget state school. The alumni don't necessarily have to be in finance.
Alright, I'll look into that. Also, generally, how do you get the university to back your investment club with sufficient funding?
My school's investment club was fairly comprehensive and started a few years before I matriculated. If your school is a state school, it may be rather difficult to get money from the school because your school is required by law to spend a certain proportion of their expenditure on grants, education, etc. I would argue that people who go into finance make far more than people who go into science, etc. Thus, remittances and donations for schools will increase. All of our earnings go back to the school.
Yeah, I go to a state school. I guess I should be looking into alumni then. How much should I be asking them for? How much do you guys recommend that I have in total before I actually start investing?
It depends, 20k would suffice. How about trading virtual dollars? You can have your club, and cut a lot of the red tape.
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