Have you wondered why it is so expensive to go to college? Take a look at these numbers for private schools:
Median compensation of chief executives, $436,429 a year
Number of presidents who make over $1,000,000, 32
Highest at Columbia University, $4,600,000
Private schools have a right to pay what they want but you might be interested in these numbers next time they hit you up for a donation.
How about public colleges?
Median compensation of presidents, $428,000
Highest at Penn State, $1,400,000
Doesn’t it warm your heart to know that your taxes are being used so well. Think about it next time they want to pass a bond issue for education.
This comes from the Washington Times, National Weekly for December 14, 2015 on page 8. The Times is quoting something called the Chronicle of Higher Education.
homo unius libri
Two main reasons for the high cost of American college education:
ReplyDelete* The student loan policy, which has driven the rise of tuitions. Schools know that students will be able to "afford" any amount through loans.
* The entrance of "corporate rule" to American educational institutions due in large part to the above item.
Talk to young people, their parents, college teachers and professors without tenure. They'll tell you the true story. The money's all going to the top and destroying the middle class aspirations of an entire generation.
At least that's how I see it.
Spot on. Thomas Sowell goes into this in great depth in one of his books. I noticed it when my son was in college. We had a $5,000 tax credit for tuition and they raised the tuition the same amount the next year.
DeleteGrace and peace