I tried to touch on this idea in the “Case for Charity: A Charity Case” section, but my approach is to view it idealistically / as things should or might be.

And in a hypothetical world where Colleges charge double-digit fractions of a family’s net worth, while generating as much investment profit as our best companies and hedge funds, but where 0% of students received any “aid”......

.....and the institution was still allowed to remain a non-profit and have returns tax-sheltered....

....I can’t imagine that such a state of affairs would be allowed to continue.

Which organizations are allowed to be considered 501(c)(3) and on what basis and what privileges that affords them is a matter that is hypothetically at the prerogative of Congress.

I know trust in Congress/the political process is pretty damn low these days.

But my point with the “best play it safe” comment was basically...if I were colleges, I wouldn’t roll the dice.