Andrew Manshel: How Top Colleges Squeeze Parents Dry and Spend the Tuition Money – WSJ.com
by Scott Smith
Another significant result of colleges’ ability to dictate pricing is what is referred to by higher-ed administrators as the “arms race,” the constant effort to refurbish and build new physical facilities. Most elite universities have provided essentially the same program to the same number of students for decades—so why the constant perceived need to expand and upgrade buildings? Because the institutions have the spending capacity (which also comes from generous alumni), and construction provides an outlet for their competitive impulses.