D—— College, with an elite reputation and a middling endowment, depended for its survival on students whose parents could pay full tuition. To attract these students, the college had built a $30 million recreation center, three espresso bars, and a pair of hulking “residence halls” that were less like dorms than like vivid premonitions of the hotels in which the students would book rooms for themselves in their well-remunerated futures.
