In a nutshell (I'm mobile so I can't copy and paste the article) the Obama campaign wanted to hold an event on UVAs campus. The school offered John Paul Jones Arena but campaign officials didn't feel it was academic enough and wanted a venue on campus. UVA said no. They felt that it would cause too much disruption to cancel 186 classes on the 2nd day of class. Also, they would have to absorb the full cost of security and offer the same location to Romney's campaign to show impartiality.
I'm proud to be a Wahoo today ;0) They put the education of their students above the prestige of being a photo op.