That's because the University of Chicago—for now—exceeds an endowment dollars-per-student ratio threshold. : A new tax taking aim at well-funded private colleges and universities may snare one of the Chicago area's two high-profile universities, at least at first.In the wake of the tax overhaul passed by Congress yesterday, the University of Chicago would likely have to pay a new 1.4 percent levy on its endowment investment income, but Evanston-based Northwestern would not, under the law's provisions.