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.
- Renewable energy advocates decry proposed...
- Z'Tejas closing after 13 years at The Gateway
- Dave Ramsey says: Don't leave an estate with...
- The Gateway adding new dining concept
- Overstock employees ride bicycles to work to...
- Batman's true mission: The search for...
- Balancing act: Survey says lack of balance,...
- Protesters from across U.S. arrested at Utah...
- Protesters from across U.S. arrested at... 12
- Obama gives protection to gay,... 7
- New solar energy project at Utah... 6
- Renewable energy advocates decry... 6
- Balancing act: Survey says lack of... 4
- Parks visitors spent $596M in Utah last... 4
- Beef pollutes more than pork, poultry,... 2
- Airlines scrap Israel flights over... 2