The nation’s best-known public universities have been on an unfettered spending spree. Over the past two decades, they erected new skylines, poured money into big-time sports programs and hired layers of administrators. Then they passed the bill along to students. The Gatton Student Center courtyard at the University of Kentucky. Photo: Jon Cherry for The Wall Street Journal

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Persons: Jon Cherry Organizations: The Gatton Student, University of Kentucky, Wall Street