In January, the Senate Finance Committee, led by Sen. Charles Grassley (R-Iowa) and Sen. Max Baucus (D-Mont.) sent letters to the presidents of 136 universities with the highest endowments requesting information about tuition, financial aid and endowment usage, among other issues. Of the universities who were sent inquiries, Cornell was the first to respond to the committee.
By the Feb. 21 deadline, only 30 universities had sent in their replies. According to a Baucus aide, responses are still coming in. Many universities reportedly requested an extension in order to give a more thorough response.