WASHINGTON (AP) — A tax on the endowments of America's wealthiest colleges began during President Donald Trump's first administration, collecting 1.4% of their investment earnings. Under ...

The American Council on Education, which lobbies on behalf of college presidents, calls it a “tax on scholarships." Before that, colleges weren't taxed on their endowment income. The tax ...

House Republicans already were considering a hike in the tax on college endowments’ earnings from 1.4% to 14% as part of Trump’s tax bill. As the president raises the stakes in his fight with ...