Thirty thousand dollars – that could be either a new section of the music building or the funds for a student to be able to attend Biola for her senior year and graduate. The purpose of the university is to educate. Students pay significant amounts of money for a certain quality of education. So what constitutes “responsible” spending of that money for a university in general? Furthermore, what constitutes responsible spending for Biola as a Christian institution?

That amount of money could either mean new carpeting for the dormitories, or it could be divvied up into numerous scholarships to allow more students to benefit from a university education they might otherwise be unable to afford. It could go towards bringing in more faculty, high profile guest speakers, or building new classrooms – all raising the quality of education at the university. At Biola, that money could also be given in support of student missions trips, or to equip students for the spread of the Gospel and making a long term Kingdom investment.

In the current economic market, however, if the money that is received at present is spent on the university immediately for the sake of increasing the quality of that student’s specific education, then sometimes Betty Sue does not get to come back. Maybe students in a different department struggle to complete their assignments because of limited class materials, or even some student clubs and opportunities disappear for a lack of funding. The many aspects that go into determining the quality of a university’s education all require money in some capacity. The cost-benefit ratios vary no matter what university is making the decisions. However, Biola, as a Christian institution also has biblical mandates regarding finances to consider on top of good business sense. The bottom line is that a university’s purpose determines its financial priorities.

So what is the purpose of a university no matter what its affiliations? Generally speaking, university administrators and board members agree that universities exist to expose students to a wide range of ideas in order to prepare them to better engage the world they will encounter as adults. However, the ability to provide such an education needs funding. A university is a business, requiring a price in exchange for a product. This product is not limited to how much or little a student learns from a class; it includes extracurricular activities, facilities, and student job opportunities.

Responsible spending for a secular university is focused completely on providing high quality education for each individual student. The more equipped each student is to succeed in their field, the more likely they are to donate back to the university which strove to make them so capable. This is also a general business focus for any school of higher education because the more successful their alumni are, the more likely the school will be financially well-endowed by its generous and grateful alumni.

That being said, there are also biblical mandates regarding money that Biola must consider in its spending. However, it would be foolish for the university to spend money they have now, in “faith” that they will be provided for when they have future needs. A university is a non-profit organization, yet a business nonetheless. The question is “What is responsible spending for Biola in this current economy?” The answer then must be “minimal but long-term result” spending. New sidewalks versus new scholarships? The sidewalks will last and cost less; the precedent should go to the new scholarships set for the future.