<p>Part of it has to do with the US News rankings.</p>
<p>My alma mater calls me every year, begging for a donation. They employ students to make these calls. I send a small donation – $50 or thereabouts. They are delighted, despite the small amount, because one of the multitude of factors that contributes to US News ranking is “percentage of alumni who donate.”</p>
<p>Yet it probably costs them more then $50 in wages paid to the call center kids to extract that money from me.</p>
<p>The quality of students that a college attracts plays a far greater role in the US News ranking system than alumni donations. You had better believe that colleges are willing to pay a lot more to get top students.</p>