The University of Wisconsin regents suspended $700,000 worth of paymentst from 30 endowment funds, some of which would have gone to scholarships, the Badger Herald reports. The endowments that have had their payments suspended were all "underwater"—the regents vice president's term for having fallen at least 5 percent—prompting the regents to be "very fiscally conservative and make sure we preserve those revenues for the long term."
Some money will be reallocated to cover some costs, but most programs funded by these endowments will be suspended for at least a year. The UW system manages 1,000 individual funds. Only 38 were eligible to be suspended.
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