<p>[Building a Showcase Campus, Using an I.O.U.
By ANDREW MARTIN
New York Times
December 13, 2012](<a href=“http://www.nytimes.com/2012/12/14/business/colleges-debt-falls-on-students-after-construction-binges.html”>http://www.nytimes.com/2012/12/14/business/colleges-debt-falls-on-students-after-construction-binges.html</a>)</p>
<p>[S]ome colleges and universities have also borrowed heavily, spending money on vast expansions and amenities aimed at luring better students: student unions with movie theaters and wine bars; workout facilities with climbing walls and lazy rivers; and dormitories with single rooms and private baths. Spending on instruction has grown at a much slower pace, studies have shown.</p>