Since the end of World War II, harassed college and university presidents have been continuously sounding the alarm. "No matter where we start," said Yale's Whitney Griswold, "every spoke of the wheel leads to the hub: the need for new capital." Nearly half the nation's private colleges are running in the red. The Commission on Financing Higher Education announced in 1952 that U.S. campuses will need at least $3,570,000,000 before 1960 for plant construction alone, and the American Council on Education reported that it will take $5,500,000,000 merely to house the estimated jump in enrollments by 1970. Where was that sort...
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