A cirse da educação superior

Private universities with large endowments often start the cycle. Schools such as Harvard University and New York University, for example, take on billion-dollar debts. In a trickle-down effect, less affluent schools also feel pressure to borrow and spend -- money they do not have.

Gaming the System

This is not the only cause of financial difficulties, but it makes them worse. Richard Kneedler, who was president of Franklin and Marshall College in Pennsylvania for 14 years,estimated in 2009 that an astonishing two-thirds of the 700 private colleges he studied were at risk of financial failure.
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