By Richard Vedder
Bloomberg - Feb 3, 2014
Put 50 randomly selected U.S. professors in a room. Within 10 minutes
they will be complaining about the growing number of administrators in
their universities. Professors aren’t right about everything, yet they
have a point in this case.
An examination of federal data on the
explosion in college costs reveals how far colleges have gotten away
from their original mission of providing “higher” education.
The National Center for Education Statistics
reported that in 2010-11, nonprofit colleges and universities spent
$449 billion. Less than 29 percent of that -- $129 billion -- went for
instruction, and part of that amount went for expenses other than
professors’ salaries. Yes, the $449 billion includes money spent on
auxiliary enterprises (food and housing operations, for example),
hospitals and “independent operations” (whatever they are). Suppose we
subtract the $85 billion that pays for all of that from the total. That
leaves $364 billion. The $129 billion for instruction of students is
still only 35 percent of that.
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