The details of the suit are not entirely clear from early reports, but the 6-year suit between the Robertson family and Princeton over the alleged misuse of their endowment has come to and end in a settlement. Princeton is providing $40 million to pay the legal fees of the Robertson family, establishing a $50 million […]
Read More
The idea of “bubble” has been on everyone’s mind since the escalating housing and economic crisis first erupted in July 2007. Throughout these turbulent times, one institution appeared to be coasting along above the fray: Higher Education. Higher ed has been growing for decades, becoming a staple in the national political economy. The supply and […]
Read More
Harvard’s Endowment has suffered a staggering eight billion dollar loss, or a loss of at least 22% in the last four months. That’s the worst endowment drop for Harvard in 40 years, and dwarfs most comparable recent plunges in University endowments. Read on. Given uniformly dolorous news in the financial sector, it’s encouraging to see […]
Read More
In the reporting on our present economic infelicity we learn, astonishingly, that among the most extravagantly foolish investors have been America’s oldest and (so we are given to believe) wisest institutions of higher learning, including Harvard, Princeton, and Dartmouth. A twenty-something taking his first dip in the stock market might be expected to display irrational […]
Read More
Amidst a climate of financial worry for many American students, the tide of amply-compensated Presidents refusing or returning portions of their salaries appears to be growing. The Daily Princetonian reports that Amy Guttman, the President of the University of the University of Pennsylvania, and her husband have made two gifts totaling $250,000 to support undergraduate […]
Read More
The Chronicle of Higher Education’s annual survey of executive compensation in Higher Education was released today, and, as usual, remarkable for its upper reaches. Median salaries at public universities increased by 7.6% in the past year, delivering such plum earnings as Ohio University’s $1,346,225 Presidential compensation, or the University of Michigan’s $760,196. Not so bad […]
Read More
Former Commissioner of Education Statistics Mark Schneider has caused a bit of a stir with a paper in which he argues that colleges are getting a free pass on a huge problem – a very high drop-out rate. Our colleges are failure factories for literally millions of students, Schneider says, and I agree. To be […]
Read More
The week is full of bleak educational news. Take a look: A Forbes story, “The Coming College Bubble”, forsees a world of trouble for Higher Education’s economic fortunes: According to a September 2008 study by the National Association of Independent Colleges and Universities, of the 504 member institutions surveyed, one-third said the credit crunch had […]
Read More
The stage is now set for wide debate over mandatory student fees These are the fees that educational institutions or student governments assess students above and beyond the monies that pertain to tuition, housing, dining, and similar goods. Some of these additional fees typically fund extracurricular activities or needs such as medical services, crime victim […]
Read More
– The Engingeering Student Council at Columbia has advanced a measure to permit student petitions on issues. The Not only are Barack Obama and John McCain for the step, the Columbia Spectator is as well. Past polls revealed majority student support. Opposed? The faculty, the administration, and, in past forms, student government. – Richard Vedder […]
Read More
With its $34 billion endowment growing at the rate of nearly 20 percent a year thanks to astute investments, Harvard University is probably the richest university on earth. But that didn’t stop Harvard from raising its undergraduate tuition 3.5 percent for the 2008-2009 academic year, to a record $32,557. When you figure in room, board, […]
Read More
The public furor over textbook prices shows no sign of halting, as students part with ever-larger sums for books. Before petitioning congress, all should take a look at the burgeoning number of private options for used and cheaper textbooks. Charlotte Allen pointed out several here this summer. Additional options continue to spring up. – The […]
Read More
Read about it here. And remember why they’re expensive in the first place…
Read More
Today’s Chicago Sun-Times offers tips for college saving, from “experts” and from students.
Read More
The New York Times ran a piece Monday on Berea college, which, judging from the article’s comment section and blog responses, appears to have hit a raw nerve. At a point when Congress is about to publish a list of the worst tuition-increase offenders, and yearly college price-tags are climbing nearer $50,000 a year, it’s […]
Read More
In 2003 Lee Bollinger, president of Columbia University, decided that the one-year curriculum at the university’s historic Graduate School of Journalism wasn’t intellectual enough, because it focused on the acquisition of practical skills such as reporting, editing, and broadcast techniques rather than training fledgling journos for what many of them would rather be: public intellectuals. […]
Read More
Harvard president Drew Faust spoke at the ROTC commissioning ceremony, a controversial act on a campus where hostility to all things military is entrenched orthodoxy. The question hanging in the air was: will she tarnish a celebratory moment by taking the opportunity to denounce “Don’t ask, don’t tell,” or perhaps irritate the anti-military crowd by […]
Read More
The student loan crisis – or near crisis; narrowly-averted crisis ; or postponed crisis – no one is sure – comes co-incidentally at a moment when many colleges and universities are once again repackaging their basic programs. The new buzzword, as John Leo has pointed out is “sustainability.” I also recently tried my hand at […]
Read More
Despite a great flurry of activity to expand financial aid at selective colleges over the past several years, a new study by the Chronicle of Higher Education reported this gloomy bottom line: “Top Colleges Admit Fewer Low-Income Students.” As someone who has worked for more than a decade to push colleges to enroll more economically […]
Read More
The Wall Street Journal reports on college savings plans. Take a look, save (more).
Read More
You’ve just started your freshman year in college, so one of your first stops is the campus bookstore to pick up your textbooks. You signed up for Econ 101, where your professor has assigned one of the top-selling basic textbooks in the field: Harvard professor N. Gregory Mankiw’s 936-page Principles of Economics (South-Western/Thomson), now in […]
Read More
An interesting news item caught my eye last week. The BB&T Charitable Foundation has made a million-dollar donation to Marshall University’s Lewis College of Business. The donation comes with a string attached: Marshall must teach Ayn Rand’s classic tribute to capitalism, Atlas Shrugged, as part of the curriculum. The BB&T Foundation has made numerous grants […]
Read More
An op-ed “Aid, Discrimination, and Justice” in Monday’s Columbia Spectator speaks to an increasing conception of universities not as American institutions, but as world institutions, with a responsibility to a global audience, and, in this case, student body. Columbia just announced an overhaul of its financial aid policies, of considerable benefit to poor and middle […]
Read More
Although the mainstream media would have you believe he was a martyr to religious fundamentalists and moral Pecksniffs, Gene Nichol lost his job as president of the College of William and Mary in Virginia for only one reason: he was a lousy administrator who seemed not to be able to get it into his head […]
Read More
(This article originally appeared at Inside Higher Ed) Dartmouth College is now the latest institution to announce considerable changes to its tuition and financial aid structure, eliminating any charges for students from families making less than $75,000 a year. Dartmouth’s arrangement is not nearly so generous as Harvard’s or Yale’s, yet it’s markedly superior in […]
Read More
Those who have been operating the managerial levers of the financial system have failed embarassingly and massively to comprehend the processes for which they are responsible. They have loaned money avidly and recklessly to people who couldn’t pay it back. They fudged data to get loans approved and recalculated . Then they sausaged fragile figments […]
Read More
Now that the Senate finance committee has requested – the New York Times said “demanded” – that the nation’s wealthiest colleges and universities supply detailed information about their endowments and financial practices, it seems clear that college cost is emerging as a long-running, popular and bipartisan issue. The request/demand came in a stern but polite […]
Read More
A few weeks ago, I alerted readers to the threat of a tightening of the student loan market . Banks have been bundling student loans, like home mortgages, and selling them as securities. First Marblehead Corporation in Boston has been the nation’s biggest player in “securitizing” student loans, and just like home mortgage-backed securities, the […]
Read More
Harvard’s announcement, on December 10, that it was eliminating student loans, and otherwise increasing grant support for lower and middle income students, has set off a torrent of welcome news in the last nine days. Two days following, Yale declared that revisions to its student aid program were forthcoming. Soon, Swarthmore announced the elimination of […]
Read More