This essay examines the current state of the University in terms of lost meaning and value, especially from the perspective of scholarship. The author specifically points to three works of literature and writers on the subject, and how these works have significantly contributed to our understanding of what is taking place within the modern University, and how the University has transitioned and specifically, radically changed from its originary purpose to the "modern" University as an institution narrower in scope and depth, role, and even responsibility. The author examines the writings of John Henry Newman, Bill Readings, and John Milton, and comments on several of their ideas and demonstrates how these ideas are relevant in understanding and improving the modern University which has shifted from academic to managerial orientation; faculty to administrators--hence its decline. Finally, the author provides several examples of challenges in the modern University and how these have created the gaps in perceived and real purpose and philosophy of the ideal university versus current "all-administrative" university and its perceived status and role.