Ray Farris was a college football player. (wikipedia)
The driving force is that you have a current account surplus supported by overseas worker remittances.
It is too much, too soon. It gives the impression that the university is going to charge as much as it can.
It clearly has incentives in the form of inflation and the Philippines' still high external debt to GDP to allow a stronger currency.
It seems to me it is not fair to the students who bring enormous good to the campus.
