Last week, First Marblehead Corporation, a Boston-based company, saw its stock plummet after cutting its dividend. The problem? First Marblehead is in the business of “securitizing” student loans. A year ago, this would have required some explanation, but the sub-prime mortgage mess has taught Americans – and people all over the world – the meaning […]
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The case of the Robertson Foundation versus Princeton University has not, after nearly five years of litigation, yet come to trial. But it’s already shaping up to be the most expensive donor intent case in history. Reports of spending by the Robertson family differ, but news reports indicate the family may have spent as much […]
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California Governor Arnold Schwarzenegger has signed legislation (SB 190), authored by State Senator Leland Yee, which would require the governing boards of California’s two university systems – the University of California and the California State University – to determine future pay increases of university executives in meetings that would be open to the public. “This […]
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The New York Times reports that “College Costs Outpace Inflation Rate.” Of course they have. The Chronicle offers a more telling headline: “Student Aid Has Gained, but College Costs Have Risen Faster.” The Times reports “in recent years, consumer prices have risen less than 3 percent a year, while net tuition at public colleges has […]
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Business Week reports on many colleges’ increasingly cozy relations with banks. In the most common formulation, the colleges permit their ID cards to double as debit and ATM cards for particular banks, in return, typically, for some portion of the profits. Parhaps it does work, but as Barmak Nassirian, associate executive director of the American […]
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In an Op-Ed in last Monday’s New York Times, UC-Berkeley sociologist Jerome Karabel painted an alarming picture of our elite universities as institutions that systematically discriminate against poor and middle-class students. In Karabel’s words, these schools are “serving less as vehicles of upward mobility than as transmitters of privilege from generation to generation.” This is […]
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President Bush just signed into law the College Cost Reduction and Access Act, passed by both houses of Congress on September 7. CCRAA – think of a crow signaling to his buddies that dinner is served – comes with the tag line, “The largest investment in higher education since the GI Bill – at no […]
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The New York Times has headlined yet another scandal in higher education: colleges and sometimes individual college officials have been receiving generous “incentives” to steer students into particular study abroad programs. The incentives include financial bounties and free trips abroad for the officials. As the Times points out, the self-dealing by college officials in these […]
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Cary Nelson’s belle lettre to Antioch in this week’s Chronicle is enough to make anyone want to nail another board over the school’s windows. What did Antioch teach? Spunky ideas, like the following: I used some of Lyndon Johnson’s antipoverty money to hire buses to take the program participants [inner-city children] to an antiwar demonstration […]
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Peter Wood has been active at the NAS site, issuing additional comment on the latest permutation of the ongoing student loan scandal (if you haven’t, do catch his initial summing-up of the case Those Scandlous Student Loans). This week, George Miller, Chair of the House Education and Labor Committee, introduced a bill to reduce federal […]
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Antioch College, of fame for strident sexual interaction policies, and Abu-Jamal commencement speeches, has ceased to be. American colleges are not in the habit of disappearing, but then, there are few colleges anything quite like Antioch, as Peter Wood today notes in What Happened To Antioch? on the site today. In a universe of left-inclined […]
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