Chicago facts of the day

The University of Chicago has now borrowed $6.3 billion, more than 70 percent of the value of its endowment. The cost of servicing its debt is now 85 percent of the value of all undergraduate tuition. (This is not normal. No peer institution has a debt-to-asset ratio greater than 26 percent. Perhaps that is one reason why Chicago’s tuition is so high and yet it wants to spend so little on education?)

Here is the full story.  Via Anecdotal.