英语翻译So much for anacademic perspective.A growing number of investors saw things differently.Those lovely buildings on rolling campuses,the better universities'reputations,taxpayers' backing of state-owned institutions:all this looked tothem like a deep pool of assets against which lots of money could be borrowed.The money raised could be used to attract more customers,who are choosy aboutthe product and whose demand varies little with the price (loudl

英语翻译
So much for an
academic perspective.A growing number of investors saw things differently.
Those lovely buildings on rolling campuses,the better universities'
reputations,taxpayers' backing of state-owned institutions:all this looked to
them like a deep pool of assets against which lots of money could be borrowed.
The money raised could be used to attract more customers,who are choosy about
the product and whose demand varies little with the price (loudly though they
may complain).
The idea has
flourished.Colleges throughout America are building classrooms,stadiums,
theatres,climbing walls and whatever else it takes to hold teenagers'
imaginations.This costs a lot and much of it is financed by debt.So far,
credit quality has been excellent.The last default was back in 2000,when
Bradford College,an old Massachusetts institution,closed its doors leaving
debts of almost $20m.