US philanthropists want to set standards

US universities have long enjoyed the generosity of philanthropists, who last year gave institutions some $28.3 billion (£14 billion). But now benefactors are checking to ensure institutions are spending their money wisely.

A group of philanthropists, who between them have donated millions to higher education institutions, have set up the Centre for Excellence in Higher Education amid fears that US higher education, despite the vast amounts of aid it receives, is going into decline. The centre will help philanthropists structure their donations to achieve their goals and help to monitor how their money is spent.