Big 10

"Money for nothing?": Higher Education Cost and Endowments

In the Middle Ages, one of the chief means by which a man could absolve himself of his indiscretions was the purchase of an indulgence from the Church. The promise of release from eternal damnation brought with it much abuse, and the presumption that money could be called upon to put one in God's good graces was the subject of condemnation by Luther and those who protested against the excesses of the Catholic Church.

Much as medieval indulgences were presumed to absolve the penitent, the practice of charity in modern society has assumed much the same function.

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