The Perils of Pursuing Prestige

Since the late 1980s, low graduation rates at many colleges and universities and the rising costs of attendance at nearly all of them have made the leaders of our institutions increasingly vulnerable to public criticism and, most recently, to Congressional inquiries. Not surprisingly, an army of consultants and lobbyists has been mobilized either to interpret the criticism and deflect it, when possible, or to try to deal with the underlying issues.

For the most part, higher education's

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