Clad in his trademark red sweater, Hall of Fame college basketball coach Bobby Knight introduced Republican presidential nominee Donald Trump to an enthusiastic audience of supporters in late September 2016. “I’ll tell you one thing for damn sure,” Knight bellowed. “I know how to win and he’s going to be the best winner we’ve had in a long time.”

Trump emerged to the theme from Rocky, praised Knight’s incredible winning record, and then launched into a diatribe about elite colleges and universities. Two months earlier, Hillary Clinton had proposed to make public college free for middle-class families. Trump would have none of that. “Universities get massive tax breaks for massive endowments,” Trump said, to boos and catcalls. “These huge multi- billion-dollar endowments are tax free,” he explained. “But too many of these universities don’t use the money to help with tuition and student debt. Instead, these universities use the money to pay their administrators or put donors’ names on buildings or just store the money, keep it, and invest it.” The chorus of boos loudened. “In fact, many universities spend more on private equity managers than on tuition programs.”