This is an unprecedented era of human history, in which simultaneous transformations of every technically advanced field are being driven by the powerful technological revolution in information and communications. Technically, these transformative changes are "paradigm shifts"--a distinct kind of historical change in which the governing model of a mature field is superseded by a radically new model--a New Paradigm, with new technology, economics, institutions, demographics, methodologies, vocabulary, ideas and values. Both philanthropy and higher education today are in paradigm shifts. Philanthropy's, which began in the 1990s, in an already strengthening field, is further advanced. Higher education's transformation began later, but in a field that was weakening--having been gradually destabilized over several decades. Where all this will end, in what New Paradigm, is not at all clear; what is clear is that the Old Paradigm of the 20th century is toast, and that higher education will need more philanthropy.