[a fool in paradise]

The schools will go bankrupt before change is affected

Schools each with billions of dollars of endowments aren't going bankrupt anytime soon.

If you have a billion dollars, it'd take a year to burn through it at the rate of over $2.7million a day.

Or near a thousand years at the rate of $3,000 a day. And that's just one billion, without any growth or interest.

[rbg81]

Only a handful of schools have endowments of that magnitude. There are many, many schools that are in trouble—both public and private. In 10-15 years, I bet that there will be at least a 25% shakeout.