Victor Davis Hanson describes the contemporary university in his post “The Fannie and Freddie University.” A selection:
But what cannot go on will not go on — at least for most universities without the billion-dollar plus endowments. The present reckoning is brought on not by introspection, self-critique, or concern for our increasingly poorly educated students, but by money, or rather the lack of it. Higher education is desperately searching for students with cash, loaned or not. And it is, by needs, panicking and will ever so slowly start changing.
Hat tip to Glenn Reynolds.