Should Tech Go Private?

[OldJacketFan]

Someone earlier raised this in a thread. I didn't give it a whole lot of thought initially but given some of the issues being discussed on here does Tech, by going private and leaving the University System of GA and not having the stacked BOR control degree programs, gain an advantage worth making the move.

I don't know how much money Tech actually receives from the State of GA but it's endowment is approximately 2 billion dollars. A comparison school, in many ways, is Vandy. Their endowment is approximately 4 billion. Vandy is eligible for and accepts TN's Hope scholarship money so I can't imagine Tech would lose that funding source.

To me, on the surface, it would make sense for Tech to go private in as much as it's mission is vastly different that the majority of schools in the University System. Is is practical? I don't know but I do think it's worth being explored.

Thoughts?

 

[MacDaddy2]

One thousand times yes. It does absolutely nothing for us to be up under the BOR

 

[OldJacketFan]

@CuseJacket you would be kind enough to go in and correct my hideous spelling of a very simple work (poll)?

 

[iceeater1969]

Not sure.
Would guess that hill would not be up for change. Not sure they want to do what it would take to be a more technical version of Stanford.

As an alternate IF WE LEAVE I would look to merge with Emory as they are close, have high academics as well as wide course offerings. The tech emory redearch dynamics could be a powerhouse - medical high tech research in ATL is a money maker = endowment builder.

Info all private and ranked way above gt in football.
Baylor endowment is 1.2 b, tcu 1.3 ish Stanford 12b. I lived in texas for 40 years & BAYLOR and tcu grads are very eell respected.

I would give a lot more to alum if were free of BOR.
Would not like a significant lessening the state of ga flavor brought by in state students. I am out of state grad.

 

[collegeballfan]

Why on earth would the State of Georgia give up ownership of the Georgia Institute of Technology?

 

[OldJacketFan]

Why on earth would the State of Georgia give up ownership of the Georgia Institute of Technology?

I don't know what, it any, "ownership" the State has. It may one of the hurdles that are out there. As far as I know, the state granted the charter for Tech's creation and has a degree of oversight via the BOR and University system but ownership? Questions such as this are why I posted the thread. Thanks!

 

[jwsavhGT]

@CuseJacket you would be kind enough to go in and correct my hideous spelling of a very simple work (poll)?

Done.

 

[OldJacketFan]

Not sure.
Would guess that hill would not be up for change. Not sure they want to do what it would take to be a more technical version of Stanford.

As an alternate IF WE LEAVE I would look to merge with Emory as they are close, have high academics as well as wide course offerings. The tech emory redearch dynamics could be a powerhouse - medical high tech research in ATL is a money maker = endowment builder.

Info all private and ranked way above gt in football.
Baylor endowment is 1.2 b, tcu 1.3 ish Stanford 12b. I lived in texas for 40 years & BAYLOR and tcu grads are very eell respected.

I would give a lot more to alum if were free of BOR.
Would not like a significant lessening the state of ga flavor brought by in state students. I am out of state grad.

This idea is very appealing, both from an academic standpoint (ie more majors) and from the potential dollars! Thanks!

 

[scrappy_95]

Not only no...but HELL NO! Tech is one of the best buys in America. I went to Tech because of the money it cost vs Stanford or MIT. Even out of state tution was reasonable when I was in school. Times may have changed since the 90s but I would not have gone to Tech if it wasn't such an a great deal. Dollar for dollar, the best education in the country. Private equals way more tution money. Just my two cents.

 

[JacketFromUGA]

There's a lot more that goes into it than athletics and major choices I'm afraid.

I don't think going private is in the best interest of Tech currently.

 

[Supersizethatorder-mutt]

Regardless of who "owns" Ga Tech, the Georgia BOR and Georgia legislature would veto any move to go private before it ever got off the ground. Ain't gonna happen.

 

[ClydeBrick]

All the state employees with state backed retirements who run the place would probably not be so hot about going private either.

 

[awbuzz]

Read #11 above - @Supersizethatorder-mutt is 100% right. No way it can happen without being in a fantasy world.

 

[takethepoints]

I think this is an issue that has more to do with the economic health of the state then with anything else. Georgia needs Tech as a research and educational center; it's a major attraction for research talent and new industry, especially in high tech fields. Stanford or Vandy or Puke are all bad comparisons since they are in states with public technical institutions (CalTech, TNTech, and NCST).

I'm agin it.

 

[MtownJacket]

The GT endowment is not controlled by the Board of Regents or the state of Georgia. It is controlled by the Georgia Tech Foundation, which is private. It is not completely crazy to think that GT could go private. The big problem is real estate. The Georgia Tech Foundation only owns a fraction of GT's land, and they would have to buy the rest from the Board of Regents. And the BOR is under no obligation to sell, or to give up trademarks related to GT. However, if the faculty and administration decided to go private and went on strike then the BOR might cut their losses. They could decide to sell GT land to the Georgia Tech Foundation, and use the money to build up UGA.

 

[Tech93]

The BOR is a good ole boy system. It is politics at its best and who can scratch whose back. Some of the members know nothing about education. It would be great if GT could go private and have our alum set the direction of our school, but it will probably never happen.

 

[Buzz776g]

The BOR is a good ole boy system. It is politics at its best and who can scratch whose back. Few of its members know anything about education. It would be great if GT could go private and have our alum set the direction of our school, but it will probably never happen.

FTFY.

I would LOVE to see us go private. I would LOVE to see us get out from under the back-scratching, back-stabbing, nad-scratching, embarrassing shenanigans of outdated, ignorant redneck Georgia politics.

GT is virtually private as it is. Years ago something like 15% of the school's budget came from the state; the rest from research and I suspect that is even more lopsided now.

The problem is the land and the physical plant. We would have to buy the land and buildings from the state, and I'm not sure that great of a depletion of our resources, endowment and otherwise, would be wise or warranted.

 

[dhbartlett12]

How would it affect the football team?


A man has to prioritize, OK!?

 

[OldJacketFan]

Not only no...but HELL NO! Tech is one of the best buys in America. I went to Tech because of the money it cost vs Stanford or MIT. Even out of state tution was reasonable when I was in school. Times may have changed since the 90s but I would not have gone to Tech if it wasn't such an a great deal. Dollar for dollar, the best education in the country. Private equals way more tution money. Just my two cents.

Before Gordon Gee left Vandy to go to Ohio State he put in place a policy that no student art Vandy would have to graduate with student loan debt. This was accomplished by the endowment that Vandy has, it is based solely on financial need. A student (or parents) pays what they can afford to pay. If 100% scholarship or grant money is needed for a student and the student is accepted the money is there for that student.

 

[OldJacketFan]

Regardless of who "owns" Ga Tech, the Georgia BOR and Georgia legislature would veto any move to go private before it ever got off the ground. Ain't gonna happen.

Again I'm not sure they have anything to veto. I don't know the in and out well enough to say one way or the other.