Probably not the best way to spend money…

Forbes reports:

Losing at a Dollar a Second: Rutgers University

Of all the schools that have tried to use intercollegiate athletics to advance the university’s name recognition and mission, none have done so more vigorously and expensively than Rutgers University. At last report, the school’s spending on sports exceeds revenue by over $36 million annually. That is the equivalent of a dollar a second during every minute, hour, day, week and month of the year. That is about $900 for every student attending the main campus of the University at New Brunswick. To be sure, the students directly pay somewhat less than that through student fees, but the university’s budgetary support for athletics is money that could have been used to reduce basic tuition fees for instruction. Since students are typically in school less than nine months a year, the typical Rutgers student pays about $100 every month to support the schools quixotic efforts to achieve athletic greatness. I also speculate that is at least $50 for each athletic event the typical student actually attends.

The University Senate at Rutgers, apparently a fairly important institution with some influence over decisions, has finally said “enough is enough. It is time to end this madness.” Over the last decade, it appears that the school has poured about $250 million into “investing” in its athletic programs. What have they gotten? Improvements in academic reputation? If the US News rankings are any guide, Rutgers academic standing over the last decade of athletic expansion declined materially, from 58th to 70th. Forbes Best Colleges list (which includes liberal arts colleges as well as universities), which my research organization prepares, ranks Rutgers a so-so 177th (of 650 schools), below a less well known state school, the College of New Jersey.