Archive for June, 2007


More Presidents Boycotting U.S. News

Posted on June 22nd, 2007 in Uncategorized | No Comments »

More Presidents Boycotting U.S. News
(Source: Kenyon College)

The anti-rankings crusade continues. This time it's a group of liberal arts college presidents banding together to stop the madness.

Here's a bit from the New York Times:

The presidents of dozens of liberal arts colleges have decided to stop participating in the annual college rankings by U.S. News and World Report.

The decision was announced Tuesday at the end of an annual meeting of the Annapolis Group, a loose association of liberal arts colleges. After two days of private meetings here, the organization released a statement that said a majority of the 80 presidents attending had "expressed their intent not to participate in the annual U.S. News survey."

The commitment, which some college presidents said was made by a large majority of participants, represents the most significant challenge yet to the rankings, adding colleges like Barnard, Sarah Lawrence and Kenyon to a growing rebellion against the magazine, participants said.

U.S. News says it provides a valuable service to parents and students in its yearly evaluations, which are based on factors that include graduation and retention rates, assessments by competitors, selectivity and faculty resources. Critics say the ranking system lacks rigor and has had a harmful effect on educational priorities, encouraging colleges to do things like soliciting more applicants and then rejecting them, to move up the list.

"We really want to reclaim the high ground on this discussion," said Katherine Will, the president of Gettysburg College and the incoming president of the Annapolis Group. "We should be defining the conversation, not a magazine that uses us for its business plan."

The association did not take a formal vote and each college will make its own decision, Dr. Will said.

The members of the Annapolis Group also decided to develop their own system of comparing institutions. The group intends to work with other higher education organizations to come up with a common format with comparable data.

"They will do what they will do," Michele Tolela Myers, president of Sarah Lawrence College, said of U.S. News and World Report. "We will do what we will do. And we want to do it in a principled way."

Brian Kelly, the editor of U.S. News, said the magazine applauded any effort to come up with new data. "If they come up with some new data, fine," Mr. Kelly said. He was also conciliatory toward the presidents who said they would no longer cooperate with the magazine. "If a few presidents don't want to participate, we understand," he said.

Read the rest here. And as always, stay tuned.

Idol Thoughts

Posted on June 19th, 2007 in Uncategorized | No Comments »

Idol Thoughts

My new Chronicle of Higher Education column is out this week. This time I look at American Idol, specifically the "Idol Gives Back" episode. What lessons did it teach us about philanthropy?

Here's a bit:

I'll let you in on a little secret but you have to promise not to tell anyone: I'm a huge fan of American Idol.

I've watched the show from the start. My wife heard about this acerbic Brit named Simon Cowell and wanted to check him out. So I tuned in out of curiosity and haven't missed an episode since. Tuesday and Wednesday nights are sacred in our household — even my daughters, ages 6 and 5, are hooked. (My 3-year-old son couldn't care less.)

My colleagues know about my affliction, though they don't suffer it well. I try my best to engage them in Idol chitchat, but they have never heard of Clay, fantasia, Kelly, Taylor, or even Sanjaya. (Well, some of them have heard of Sanjaya.) My director of development will wave his hand and shoo me out of his office at the mere mention of theme nights or voting results. Others smile and nod, waiting for me to stop. It's so hard to dish when no one else knows the dishees.

It's all such pablum to some people, especially those who dismiss every reality show as garbage. But a recent Idol episode revealed a soul beneath the glitzy facade, and made me think about the challenges we face as educational fund raisers.

Every Tuesday, millions of people call to vote for their favorite performers, hoping they will return to croon the following week. Each vote tosses a few pennies into the Idol bank, which already swells with corporate sponsorships. When upwards of 30 million people vote each week, the piggy bank grows substantially. With all of those pennies rolling around, the producers thought it was time to share the wealth.

Enter "Idol Gives Back," a star-studded, confetti-soaked, two-night extravaganza with a mission of raising money for charity. The money would support children's aid and related causes in Africa and here in the United States. Idol promised to dedicate a portion of its voting haul to such charities and exhorted major corporations to join in. A record 70 million votes were cast. Companies lined up to contribute, as did celebrities. Americans called in pledges. All told, the effort raised more than $70-million.

Was it a publicity gimmick? Sure. A counterattack to quell the anti-Idol establishment? Probably. A shameless attempt to woo new viewers? Maybe.

But it worked.

Read the rest here.

Antioch Closes…For Now

Posted on June 18th, 2007 in Uncategorized | No Comments »

Antioch Closes...For Now
(Source: Antioch University)

Antioch University announced it will close its main undergraduate college, located in Yellow Springs, OH. Plans now are for the college to reopen in some form in 2012.

From InsideHigherEd:

Antioch University announced Tuesday that it would suspend operations of its main undergraduate college – which has played a historic role in American higher education – at the end of the next academic year. All of the approximately 40 faculty members teaching at the college will lose their jobs. Antioch's other campuses, which focus on graduate programs and nontraditional students, will continue.

Antioch's official announcement said that the college could reopen as soon as 2012, in some new form. But in an interview Tuesday evening, the university's chancellor used "if" to describe a prospective reopening. And several people at the college said that they were not sure how the financial problems could be solved and the campus rebuilt in a few years.

Low enrollment and a small endowment were blamed for the decision. For the coming fall semester, 125 new students had been expected, which would have brought total enrollment to just over 300.

Antioch was founded in 1852, with Horace Mann serving as its first president. The college played a role in the abolitionist movement and was an early institution to admit students who were women or black. In the 20th century, Antioch was among the pioneers in "co-op education" in which students alternated positions of work all over the country with their education at the Yellow Springs, Ohio, campus. Antioch was particularly notable in that the education was focused on the liberal arts, and the college was known for turning out graduates who went on to play major roles in intellectual life and social activism, people like Clifford Geertz and Stephen Jay Gould and Coretta Scott King.

Read the rest here.

Good luck to the Antioch folks. Tough road ahead.

StudentLoans.Com Offers One-Stop Shop

Posted on June 11th, 2007 in Uncategorized | No Comments »

StudentLoans.Com Offers One-Stop Shop

Need a Student Loanlinks but don't know where to begin? Try StudentLoans.com, a one-stop shop for loan applications and related information. Find everything you need to know about private loans, federal loans and consolidations.

And check out the "Financial Aid 101" section for helpful tools such as a planning calendar, an explanation of loan sources, and thoughts on expected family contributions.

Happy hunting….

Washington & Lee Snags $100 Million

Posted on June 7th, 2007 in Uncategorized | No Comments »

Washington & Lee Snags $100 Million
(Source: Washington & Lee University)

It's becoming commonplace: Over the last couple of weeks, four institutions have announced gifts of $100 million. As I reported earlier, the Universities of Chicago and Illinois received that sum. On the heels of those announcements came word from the University of Washington of a $105 million gift from the Gates Foundation. When it rains, it floods.

Now, Washington & Lee University has announced its own $100 million gift. Like Chicago's benefactor, this donor chose anonymity.

Here's part of W&L's release:

During commencement exercises today, Washington and Lee University will announce that it has received a gift of $100 million, the largest in the 258-year-old school's history and one of the largest ever received by a liberal arts college.

"This act of generosity, vision and loyalty ensures that Washington and Lee will fulfill its historic mission to educate leaders who possess integrity and a commitment to service," said W&L President Kenneth P. Ruscio.

Of the total sum, $85 million will increase existing funds for need-based aid at the university. "We want top students who can benefit from one of the country's best, most personal liberal arts educations," said Ruscio. "This gift means that financial circumstances need not prevent such students from choosing W&L."

Ruscio said that the donor requests that he remain unidentified for the present in order to keep the focus on the students graduating today, the program the gift creates and the values it reinforces.

The university is known for its strong liberal arts and professional programs. "Washington and Lee has always embraced the responsibility to prepare students to lead lives of consequence," Ruscio explained. "This challenges us and inspires us to reach even higher."

The contribution was made to endow a new program focusing on leadership and integrity. "It provides an unprecedented set of opportunities for a university," said Ruscio. "The theme could not be more timely for Washington and Lee and for society."

Lots of money for a relatively small place.

02138 Dissects Faust

Posted on June 6th, 2007 in Uncategorized | No Comments »

02138 Dissects Faust
(Source: 02138 Magazine)

The new magazine, which I've referenced before, is all about Harvard. It's pretty slick and, so far, pretty good.

In this latest issue, Richard Bradley, no stranger to everything Harvard, takes an intimate look at Drew Faust, the university's new president. He interviewed me for the piece, and quotes me as such:

Faust was a popular teacher. "There wasn't a dull moment in her lectures, and you'd marvel at her ability to hold her class's attention," says Mark Drozdowski, a former student who is now the director of a college foundation. But for all her expertise, Drozdowski says, Faust was still approachable. "She didn't seem to have a big ego," he recalls. "She didn't have the descending-from-Mount-olympus kind of attitude."

Fair enough. That last line contains what is probably the longest adjective I've ever uttered.

Definitely worth a read.

U. of Illinois Gets $100 Million Gift

Posted on June 4th, 2007 in Uncategorized | No Comments »

U. of Illinois Gets $100 Million Gift
(Source: University of Illinois)

Another week, another $100 million gift in Illinois. As I reported last week, the University of Chicago received a nine-figure gift for scholarships. This time it's the University of Illinois, which will use the money to support bioengineering, stem-cell research and alternative energy, according to the Chronicle of Higher Education.

The donor, Thomas Siebel, is an Illinois alumnus and computer-systems entrepreneur. In 1999, he gave the university $32 million.

This new gift kicks off a $2.25 billion campaign for Illinois. Pretty good start to the public phase, I'd say.

U. of Chicago Lands $100 Million Gift for Scholarships

Posted on June 1st, 2007 in Uncategorized | No Comments »

U. of Chicago Lands $100 Million Gift for Scholarships
(Source: University of Chicago)

An anonymous donor (imagine that) has given the University of Chicago $100 million to underwrite scholarships for low-income students.

Coverage from the Chronicle of Higher Education:

In an announcement of the gift on Wednesday, the university said the money would be used for scholarships, jump-starting a $400-million fund-raising campaign for student aid.

The institution is following other leading public and private colleges, such as Princeton University and the University of Virginia, in replacing loans with grants for lower-income students.

The gift — the largest in the University of Chicago's history — will help eliminate loans entirely for students from families with annual incomes of less than $60,000. It will also help cut in half the amount of loans taken out by students whose families earn between $60,000 and $75,000 annually.

And from the university's public announcement:

"This gift ensures that the most talented students, no matter their economic circumstances, will have the opportunity to benefit from the uniquely powerful and rigorous Chicago education," said University of Chicago President Robert J. Zimmer. "Providing access to the College for these students comports with our highest values, is central to our mission, and has the potential to greatly enrich the life opportunities for our students and their families for generations to come. We are deeply grateful for this extraordinary gift and the inspiration it provides for others to support students and the University."

The $100 million gift, which is entirely expendable over 15 years, will establish Odyssey Scholarships, a program that will allow the University to reduce student loans among undergraduate students whose families demonstrate low or moderate income and high financial need. For those students whose annual family income is less than $60,000, the loans could be replaced entirely by grants, and for families whose income is between $60,000 and $75,000, the loans could be cut in half.

"I am giving this gift to the University of Chicago because I believe it had a profound effect on my life and in particular on allowing me to survive untold failures and persevere in mad adventures that have rewarded me with the financial resources to make this gift," said the donor in a written statement. "I give this gift in the hopes that future generations of students will not be prevented from attending the College because of financial incapacity and may graduate without the siren of debt distracting them from fulfilling unremunerative dreams."

Congrats to Chicago for landing this gift. Well-intentioned money, indeed.