
A New York Times article With No Frills or Tuition, a College Draws Notice, profiles Berea college in KY. This school has each student work a 10 hour a week job, has not football teams, or other perks, and food comes from the college farm.
The college does all this with the help of modest endowment. This of course brings up the question, why cant colleges with billion dollar a year endowments charge students $40,000 a year?