4acb0a8a-9b20-455d-8f28-4129ebc622cb

4acb0a8a-9b20-455d-8f28-4129ebc622cb

FILE – In this June 4, 2013 file photo, Rep. Tom Reed, R-N.Y., speaks during a House Ways and Means Committee hearing on Capitol Hill in Washington. Reed is drafting a proposal that would require college endowments of more than $1 billion to spend at least 25 percent of their profits every year on financial aid. Reed’s goal is to help lower tuition costs for students from working-class families. (AP Photo/Charles Dharapak, File)