<p>It looks to me like Barnard is set up as an -off-balance sheet asset of Columbia, the same way that many companies have off-balance sheet assets.</p>
<p>In the corporate world, these nominally independent companies have separate boards, management team, etc, yet they are ultimately subordinated to, and controlled by, the parent in some fashion. The nature of the controlling mechanism is such that the parent doesn't have to put the assets "on the books" for accounting purposes, according to the rules; "implausible deniability", if you will. Often, these off-balance-sheet assets are footnoted on the the parent's balance sheet.</p>
<p>In these situations, the "separateness" is in fact a sham created by the parent, and all who look closely recognize that the affiliate is in truth an asset of the parent for any real common-sense purpose.</p>
<p>In the current situation, the instrument of ultimate control/ subordination is the affiliation agreement. IMO, Columbia has acknowledged its ultimate control over this asset by its ongoing involvement in faculty tenure decisions and its granting of degrees. IMO It is wishful thinking to say that this is done as some sort of favor.</p>
<p>The referenced wikucu article contains a number of statements slanted towards, and undoubtedly by, digruntled Columbia students who are unhappy with the affiliation structure that their university has adopted.</p>
<p>IMO they should direct their "disgruntlement" towards the university who cooked up and entered into this deal, and leave the Barnard students, who are merely using what the deal entitles them to use, alone. </p>
<p>They are persecuted enough by the fact that, though they really are Columbia University students in every practical sense, the university for its own purposes has put them off-balance sheet.</p>