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I began to think, The endowment has had a bad reputation in the last few years, and that's unfair.

Colleges would compete by adding professors, enhancing programs, or building nicer facilities. So they competed by making institutions better.

Colleges would compete by adding professors, enhancing programmes or building nicer facilities. So they competed by making institutions better.

College professors used to be badly paid and worth it. Colleges used to be modest institutions; they should go back to being modest institutions.

Poorer students take out larger loans and will have to contribute more to the cost of higher education.

There's a reasonable amount of traction in college education, particularly engineering, because quite a lot of that is privatized, so there is an incentive to set up new colleges of reasonably high quality.

I have observed private and proprietary colleges, like the University of Phoenix, and the market they serve. And I found it intriguing the way in which they are trying to deliver the product, with more accountability, for a price.

We need to align the incentives so that colleges have an incentive to keep down their costs... to graduate students on time with degrees in areas where they're going to be able to get jobs and going to be able to pay back those loans.

As a college student, you're depending on your scholarship money, money your parents send you. So I guess when people start talking about big figures, it doesn't hit me.

Economists report that a college education adds many thousands of dollars to a man's lifetime income - which he then spends sending his son to college.