Once upon a time there was a college of wizards who strove for light and knowledge. Unbeknownst to them, however, their most trusted body of elders were swayed by love of wealth and power into the service of ancient, dark gods.
For years the college heard dark rumors of graduate students being exploited, forced to work for poverty wages while taking on massive student loans. They heard about students mortgaging their futures to gamble on being one of ten thousand chosen for a tenure-track job. They watched those students work for free for years, producing journal articles for free in the hope of bolstering their chances at one of those rare jobs.
The tenured wizards watched with dismay, too, as most of their students failed and ended up in adjunct or lecturer positions that held no hope of rising to the security or pay they themselves knew. A scant few managed to obtain positions on the tenure track, but even these lucky few sacrificed years more in unpaid service and free labor producing 'peer-reviewed' scholarship in hopes of finally gaining tenure.
All the while, however great their discomfort, the tenured wizardry let the wicked cabal feast upon the blood of the young and the weak. They kept their own safety around them like a cloak, sorrowing for their students but defending their own gain.
And then one day, it turned out that the blood feasts had brought unspeakable power to the wicked circle at the core of the college. That was the day they proved strong enough to
feast upon the tenured, too.