Sunday, June 9, 2019

Genshaft’s Gift to USF Pride or Guilt?

Like many public and private university leaders, Genshaft saw the student-loan  program as a cash cow. 

Tampa Bay, Fl 
Opinion by: E. Eugene Webb PhD 
Author: In Search of Robin, So You Want to Blog.

Judy Genshaft resigned as USF President in May her announcement package wrapped in a $20 Million-dollar monument to her time at USF. You can get some detail from Tampa Bay Times writer Megan Reeves: Judy Genshaft gives $20 million to USF to build a new honors college.
I am sure the Honors College will pander to the wealthy and political connected who can benefit the University in some way.
Genshaft’s salary, bonuses and benefits have topped over $1 million annually for the last few years making her a viable candidate for a poster explaining why college tuitions have gone through the roof.
Not much is being said about Gensaft’s overseeing of steady rising in state college tuition cost, ill-prepared students for today's careers, and graduates loaded with unconscionable levels of student debt, while University expenditures on useless programs, degrees and buildings went through the roof.
Like many public and private university leaders, Genshaft saw the student-loan  program as a cash cow to be milked to produce an over-inflated  academic environment and failed to see that the financial establishment in this country had found an insidious way to dupe the academic elite into a never-ending  spiral of useless degrees at ever growing costs, mortgaging the future of their students and some would say our society.
Genshaft was a money miracle, admired by her Board for fund her raising prowess and social correctness. Genshaft ran with wealthy and the elite all capable of paying for their children's education, and totally oblivious or completely uncaring about the thousands of USF graduates who graduated from her “fine” institution of higher learning with a mountain of debt and in many cases a degree just barely worth being a fish wrapper.
I’ll quote a few of the last lines of Megan Reeves article:
Zimmerman, the board of Trustees chairman. Then he turned to Genshaft: “You’ve accomplished so much yet continue to do more and more and more each and every day. Today your leadership and philanthropy take center stage.”
Too bad it couldn’t have been more like, “You’ve accomplished so much for our students and have steered them through the issues within higher education while providing an outstanding and valuable academic experience while managing costs and keeping student debt to a minimum.”
“That’s what this gift is about today,” Genshaft said Wednesday. “We have to elevate things here and let students know that USF is a place to try and make a difference in the world around them.”
It’s tough to make a difference in this world when you’re staring down the barrel of five figure student debt with a non-marketable degree.
One thing that you can be sure of is the lasting legacy of Genshaft’s $20 million gift will be a huge operating expense for the new monument to educational mismanagement, which will certainly find its way into the University budget and be reflected in a soon to come round of tuition costs increase.
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