Damian Dovarganes, AP
Stephen Trachtenberg, the former president of George Washington University, increased tuition from $25,000 to $51,000 during his tenure, according to The Atlantic.
Trachtenberg proudly claims responsibility for a business model that caused a dramatic increase in college tuition prices nationwide.
Raising tuition prices not only increased university revenue but sparked a perception war with universities nationwide.
"People equate price with the value of their education," Trachtenberg told The Atlantic.
To provide an illusion of superior quality, Trachtenberg spent some of the excess tuition revenues on needless amenities like ice cream socials and $2,500 per minute laser shows. He also made sure the campus was constantly under construction.
Other universities soon noticed and adopted Trachtenberg’s model.
Private universities spent more on noneducational assets than research, academic support and instruction between 1988 and 2008.
While the average American student graduates with $24,300 in debt, half are either unemployed or underemployed.
- Utah coal: A story of families, jobs and...
- There's more to why Americans don't save than...
- The battle over coal struggles to find a...
- Utah Food Bank security breach exposes 10,000...
- How Medicare is trying to start a healthier...
- Startup hopes to help children with autism in...
- Magazine honors fastest-growing Utah companies
- Handlers learn the finer points of sheepdog...
- Utah coal: A story of families, jobs... 28
- Walmart to cease sales of semiautomatic... 12
- There's more to why Americans don't... 9
- Elected officials, business leaders... 8
- Ground to be broken Thursday afternoon... 5
- The battle over coal struggles to find... 4
- How Medicare is trying to start a... 2
- Applications for US jobless aid drop to... 1