If you build it, debt will come — a solid article from quickanded.com by Jeff Selingo
Excerpt (emphasis DSC):
When we read or hear stories in the news media these days about debt in higher education, we typically assume they are about the trillion dollars in student loans held by college graduates and their families.
But last week The New York Times put the spotlight on an often ignored angle to questions of debt in higher education: the amount of money owed by colleges and universities themselves.
“The pile of debt — $205 billion outstanding in 2011 at the colleges rated by Moody’s — comes at a time of increasing uncertainty in academia,” Andrew Martin of The Times wrote in a front-page story.
Yet judging from the college officials quoted in The Times story, it seems they still don’t get that the financial model in higher education is forever changing. They still seem to believe that the model that has carried them for decades will continue.
The history of the United States is littered with industries that had similar hubris in the years or decade before they underwent massive change. Higher education is following that well-worn path.
- Building a showcase campus, using an I.O.U. — from nytimes.com by Andrew Martin
I must confess that I really appreciate the new or significantly enhanced buildings on our campus (which was done via a successful campaign). However, I created the graphic below to encourage our development group and other such departments across the country — as well as the donors of those institutions — to also:
When I created that graphic, I had the words of Steve Jobs in mind. Jobs specifically wanted Apple’s campaign from years ago to say, “Think different” (not think differently…as that changes the meaning, he asserted); along those lines, I’m suggesting, “Think virtual.”
An additional note for folks who are interested in the Bible:
- After reading John 4 (the conversation between Jesus and the Samaritan woman at the well), I could just hear the LORD saying…hmmm…nope…ultimately, you need to think spiritual.