reality, just like in most things, probably resides somewhere in the middle as opposed to either extreme. Liberty has experienced great growth in a lot of areas and does a lot of good things. Whether that continues to be the trajectory will probably be significantly affected by how the governing board is able to resolve and move beyond the JF Jr. issues. As with any fast changing organization there is the risk you step on some people's toes, let some things fall through the cracks and may be overly aggressive to your detriment in pursuing growth goals. That mindset is what leads to the online program's description as a diploma mill and, more importantly, a lot of criticisms about funding operations with significant federal student loan debt whose results lead to questions about value and progress. Liberty has made significant progress from a small organization near bankruptcy's death door to its present level and that is not disputable. A large portion of that turnaround was fueled, as they essentially printed money, through its online programs and the corresponding operating practices surrounding the program. However, the endowment growth is real and substantial fueled by an ever increasing alumni base as well as friends and other supporters.