Letter: Yale's wealth helps students

I object to columnist Daniel Akst's argument that Yale University's recent fundraising is superfluous . While I agree that certain public and private institutions could benefit from even a portion of Yale's endowment, Akst overlooks several key facts when making his claims.

First, he makes the unfounded assumption that donors to Yale are exclusive. It could very well be that key donors give to a variety of institutions.

Akst also assumes that many "come from wealthy families who, under other circumstances, wouldn't be considered worthy targets of philanthropy." Although Yale is popularly perceived as, and once was, an institution for the elite alone, this is no longer true. Admission to Yale is need-blind. Although Yale's endowment was $16.7 billion in 2010, it is the endowment that enables Yale to offer need-based, full financial aid to its students.

To criticize Yale for having a large endowment is to erroneously paint it with the brush of elitism. While public institutions would undoubtedly flourish with similar funds, Yale University has made a conscious effort to ensure that anyone who is academically deserving can take advantage of its resources, regardless of financial standing.

Alyssa Hasbrouck, Melville

Editor's note: The writer is a student at Yale.