As Ivy League schools upgrade dorms, financial aid, and student-faculty ratios, America’s public universities are losing out, BusinessWeek reports. The "Ivy Plus" schools, which include Stanford and MIT, represent 1% of the US student population but are the richest by far. "We can add resources in almost every dimension," boasts Yale's president.
Their wealth represents a brain drain on public institutions and a testament to the widening gap between rich and poor. Last year, Stanford collected $911 million in gifts alone and spent $4 million renovating a Victorian barn where students keep their horses. Meanwhile, state schools suffered funding cuts. "The further you project into the future, the more frightening it becomes," says the Cal-Berkeley chancellor.