Private endowments may get 1.4% levy on earnings

The proposed provision would levy the tax on schools with at least 500 students and more than $250,000 of endowment assets per student. All 10 of the largest private university endowments meet this criteria, with Columbia University the closet to the threshold at $320,000 of assets per student.

Using 2017 assets as a proxy, the three largest plans would have had tax bills average $45 million given 2017 fiscal-year returns.