And frankly its only a handful of the P5 schools that stay in the black as well. And even when its disguised fairly well everyone knows that's its the students who end up picking up the tab for all of the debt. My daughter attends the University of Maryland and I just paid her tuition bill, even with UMD getting more money from the Big Ten I know part of her cost is certainly subsidizing athletics. Would love to know how much of it it is (and she has attended exactly one athletic event while she has been there - the Akron soccer game I went to with her last fall).
I heard Chris Christie speak (not a political endorsement just happened to hear him on the radio) and he has a kid a Notre Dame and one at Princeton. He got a letter from Notre Dame which proudly said tuition was only going to up 4% this year (the lowest increase in 40 YEARS) and he said the bill from Princeton had only three lines - tuition, room and board and fees. He said if you got a bill at a restaurant and it just said food you'd probably ask the waitress to break it down into the actual costs.
I saw a promo on a Big-12 basketball game and they were proudly trumpeting that student athletes had a higher graduation rate and came out of school with far less debt than the general student population. Gee, could that have anything to do with available tutors, someone watching over your academics (and a high number of majors in sports management and exercise science) and something called a scholarship all because you're good at bouncing a ball or the like? So you have a bunch of students subsidizing other students and you wonder why there's an undercurrent of anger about student debt (though I have less sympathy for those who feel they must attend a private school for art history and pile up a mountain of debt doing so - you have to take some of the responsibility).I love college sports but it terrifies me what it is turning into. Could be a student (or parent) revolt on the horizon. Damn it when did I turn into the cranky old man? Think I'll just become a bitter member of the venomous minority.