Newly installed University of Dallas President, Dr. Thomas Hibbs, discusses the challenges facing higher education in the liberal arts.  These challenges are both financial and cultural, stemming not only from external threats, but arising also from a misunderstanding by universities themselves of the true nature of liberal studies.  Dr. Hibbs explores the ideas underlying the liberal arts education, and then discusses their implications for various aspects of college life, such as formation in virtue and the study of the more practical arts.