The New York Times has a very interesting article about a growing rift at NCAA III institutions. I know at the annual NCAA conference there as been some talk about creating a NCAA IV or a new subset of NCAA III.
While I believe a majority of NCAA III schools are private Liberal Arts Colleges there is a growing swell of State schools joining the DIII ranks.
http://www.nytimes.com/2007/02/13/sports/othersports/13ncaa.html?ex=1172120400&en=85994514d2cf7ec6&ei=5070&emc=eta1
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