Education: Universities Must be Beggars

When Harvard's President Nathan Marsh Pusey announced the launching of one of the most ambitious fund-raising campaigns ($75 million to $100 million for the undergraduate college alone) in educational history, he knew that he would have to answer one inevitable question: Why does Harvard, with the biggest university endowment in the U.S., need so much new money? Pusey's reply, which is now going out to alumni, is more than just a plea for Harvard. It is a dramatic description of the ever-expanding needs and challenges of U.S. higher education.

Like his colleagues everywhere, says Pusey, "the Harvard professor is a poorer man...

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