FILE - This Sept. 9, 2016 photo shows Harkness Tower on the campus of Yale University in New Haven, Conn. A study of 800 colleges found that the average endowment return was a 2 percent loss, the worst performance since the economic recession in 2009. The largest endowments were among those hit hardest, including Harvard’s, which posted a 5 percent loss but remained the biggest at $34 billion. Yale’s remained No. 2 with $25 billion. (AP Photo/Beth J. Harpaz, File)
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