Any Clue as to Why American College Education is in Decline and Costs are Huge?

University(?) of Louisville to Pay  $11 Million to Leave an Athletic Conference

In one of the great unheralded movies the Marx Brothers starred in a college football farce (well actually today college football is a farce, in the 1930’s that was not always the case).  Groucho was the President of the school, setting an example that many college presidents have since followed.  Upon being told that the college could only afford a dorm or a football stadium Groucho chose the stadium. 

“Where will the students sleep?” he was asked

“In class, where they always sleep” he answered

Today the choice between college facilities and athletics is not a joke, unless it is a joke on students and parents who want their children to get a world class education without going into mountain like debt.  But it is not true that colleges do not have financial resources lying about.

AAC, Louisville reach agreement on breakup, move to ACC . . .

 

Louisville will pay $11 million in exit fees to the American, $5 million of which Louisville has already paid.Louisville made a $2.5 million payment to the American three days after it formally accepted the ACC's invitation on Nov. 28, 2012. Another $2.5 million payment was made on Sept. 5 of this year.

This is called “chump change”, because there are chumps involved, namely the students and their education.  But not to worry, the U of L can easily get the money by increasing student fees, and the students can easily get the money by taking on more student debt and the bloated administrative staff and overpaid coaching staff can be seen on campus laughing at the chumps.