Who Benefits from UNCG's Cash Hoard

We've all heard that things are tight, and it's true, but only because the money is being choked off. You know who isn't feeling the crunch? The private equity fund managers who are being compensated through performance fees to care for both the endowment and UNCG's $80 million hoard.

This saved money should, by no means, be spent down to 0 and obviously the endowment is tricky, but imagine if we had used that savings account to deal with the $12 million give back. Or to provide copy paper to the campus or to pay for employee parking or, well, any number of things that would have been better than keeping it on wall street for the profit of others at our expense.

I'd say the new chancellor's first task would be setting our financial house in order - and clearly. I love his commitment to fun, but it's hard to have fun in the wake of the Brady disaster and even more difficult when the wages you live on leave you struggling to make ends meet while still paying increased parking fees just for coming to work. Add to that the distinct feeling (and overwhelming evidence) that we're being lied to about the money and it moves from fun to funereal.

Maybe in this context it's a little easier to understand the bad taste we get when we hear that the chancellor only flies business class, rides to country clubs in a shelby cobra, needs a new butler, and has gotten a fat pay increase over his disastrous predecessor. As the 'needs' at the top get bigger, the money gets diverted from below.

The NY Times has recently addressed a portion of this hoarding - using the example of Yale, but instructive for us as well. It raises questions.

Gilliam will either address them or allow himself to be bought, the choice is still his.

A Student Has Questions for UNCG

After finding that, unfortunately, UNCG no longer ranks among the best value colleges (although three other NC universities do), students are asking questions about the difficulties they are having paying for this education. Coming it at #426, something we should find both tragic and shameful, all while raising the price of administrators and paying for a ridiculous rec center, means that students are wondering more loudly than ever: why am I paying so much and why don't I feel like UNCG is helping me get my degree?

As one student poignantly stated:

"It is so disheartening that The University of North Carolina at Greensboro (UNCG), which is supposed to be giving students the opportunity to make their lives better, is so determined to implement rules and policies that make completion of a degree even more difficult than making passing grades. Not only are we forced to pay a 50% Tuition Surcharge, but we not charged said surcharge until MONTHS after they issue Financial Aid. Then, just before they drop the students' current classes, we are notified that any aid we are due in the coming weeks will not cover the previous semester's balance, so we have to come up with thousands of dollars - RIGHT NOW.

My questions for The University of North Carolina at Greensboro - UNCGare: How is this fair? How is this at all helpful to the student? How are these types of practices not a detriment to the existence and progression of "our" university? How are those of us paying for our college education independently (without the help of Mommy, Daddy, Grandparents, trusts, inheritances, and/or spousal support) ever supposed to attain the degrees we are working so tirelessly toward, if we are constantly being bombarded by financial, logistical, and administrative obstacles? Do you really care more about the date by which ONE of the MANY thousands of dollars you receive yearly is deposited into your vast bank account, than you do about allowing a student (who is not just surviving through, but THRIVING in college) to attain the degree they so desperately seek?

These questions, UNCG, are not rhetorical - I absolutely expect an answer. You do not have to answer them here, but you will hear from me in other forms and forums, so you WILL answer them at some point. You will see and hear from me very soon."

Whatever excuses the administration at UNCG wants to make (ranging from the 'everybody is doing it' model to the 'it's not our fault' version) there are things that are adding to the costs that we very clearly have the ability to control and the failure to do so is as damning as actively picking the pockets of students when they are walking to class. We continue to downgrade the quality of the institution when we drive away dedicated staff, revolt dedicated faculty, and squander our money on unnecessary bean counters with fancy titles but little to offer.

It appears, dear UNCG, that the owl may have a larger family than you expected. A response is in order - and look sharp about it.