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Mitch Daniels Weighs In on University of Chicago’s Financial Strain and the Future of Higher Ed
Summary by Chicago's Morning Answer
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Mitch Daniels Weighs In on University of Chicago’s Financial Strain and the Future of Higher Ed
A recent article by University of Chicago classicist Clifford Ando has raised alarms about the school’s deepening financial troubles, claiming the institution is abandoning its traditional academic mission in favor of becoming a “tax-free technology incubator.” According to Ando, the university has borrowed $6.3 billion—over 70% of its endowment’s value—while the cost of servicing this debt now equals 85% of total undergraduate tuition revenue. …
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