Two of the major challenges facing higher education in the 21st century are the determination of priorities and the allocation of shrinking resources to reflect these priorities. Many colleges and universities, when blessed with sufficient funds during the last half of the 20th century, dedicated resources to develop honors programs (or similar honors colleges) to attract and nurture academically talented undergraduate students.1 Substantial funds are required for honors programs to offer benefits such as small classes, special honors advising, and honors housing. In addition to annual funding, other resources are needed to operate a successful honors program, such as faculty time for honors courses and physical space for classrooms, office...