Skip to comments.Over 100 Colleges and Universities Charge $50K or More a Year (Where's the outrage?)
Posted on 10/30/2011 3:11:06 PM PDT by Libloather
Over 100 Colleges and Universities Charge $50K or More a Year
October 28, 2011
RUSH: I don't mean to harp on the subject of college tuition, but CNNMoney.com is reporting this: The number of colleges and universities with tuition and fees totaling more than $50,000 for a single year rose to 123 for the 2011-2012 year -- up from 100 institutions in the previous year." So 23 new colleges where it cost 50 grand minimum for a single year. Now, they point out in the story that this is more than the average United States salary. Do you know that if you earn $50,000 a year or more, you are in the upper 10% of wage earners in America? I love telling people that statistic. They don't believe it, and it sort of puts this...
Do you know what it takes to be in the top 1%? Take a stab. What is it? Top 10%: $50,000 a year or more you are in the top 10% of wage earners. Take a stab at the floor, the minimum income that qualifies to be in the top 1%. Brian, what do you think it is? (interruption) You're close. He said, "$500,000." It's $343,000 a year. If you make $343,000 a year, you are in the top 1%. Now, I know. I can hear members of the New Castrati, "Mr. Limbaugh! Mr. Limbaugh! That is just silly, that's just crazy! Everybody knows that the top 1% is the millionaires and the billionaires and the Fortune 500!" No, no, no, no. The top 1% starts at 343,000. There aren't that many people in it. This is the whole point.
Those of you who oppose everything Obama's talking about, oppose everything these Wall Street protesters say -- this 1% myth is that it's all millionaires and billionaires and that there are tons of them and that the income gap is widening. That may well be, but it's not because of capitalism. It's not because of the unfairness of anything. It's because of government. It's because the Democrat Party's created so many dependent, helpless people who do not know (and some of them don't care) about being upwardly mobile. The opportunities are still there, even with this guy running the show. So stop and think about that. There are 123 institutions of higher learning where it costs more than the average annual American salary to attend the place.
More colleges charging $50,000 or more a year
Given severe budget cuts at many public schools, many state colleges and universities have boosted tuition drastically in the past year.
For a lot less, you can hire the best professors as private tutors for a superior education in less time. Then get a fake diploma. Maybe bribe a school registrar and get a real school transcript.
Even better - many (perhaps most) of these schools had tax-free earnings on their endowments last year that exceeded the amount of revenue brought in by tuition.
Or in other words, in many cases (the Ivy League schools for sure) they could have charged nothing for undergraduate tuition and still ended up financially ahead of where they were on their balance sheet the year before.
College tuitions are almost totally divorced from actual costs to the schools, and providing government subsidies (Pell grants and the like) only encourages the universities to raise tuitions even more.
Colleges will charge as much as the students are willing to borrow or as much as government will pay.
Education bubble bursting in 3....2.....1
How to make money as a university?
Admit 100 Chinese students and charge their government $50,000 each for tuition.
Plus, get the US govt. to pay $50,000 in loans/grants
to US students.
You can get many of the MIT lectures online and enjoy
Obama was some kind of assistant professor. Schools require a lot of junk classes taught by radical leftists like this.
Today’s universities are a shadow of the concept of eduction from the Enlightenment. Instead they are manifestations of progressive socialism. In addition to unreasonable cost, higher education today suffers from:
1) The death of academic freedom. The secular humanists have taken over most institutions of higher living and bestow the benefits of tenure only on those who subscribe to their world view.
2) The tenure system permits those at the top of the hierarchy, the full professors, to carry extremely light workloads while engaging in “research and publication”, much of which lacks scholarly merit. Meanwhile the education of the undergraduate students paying $50,000 per year is shuffled off to overworked and underpaid teaching assistants and adjunct professors who have few if any benefits. Few undergraduates in large universities have exposure to the the headline professors.
3) Tuition payments are high to fund redistribution schemes. First, most universities have created huge administrative bureaucracies having little to do with educating students. Second, students from middle class and upper income families pay full tuition which is then redistributed to support generous scholarships for students deemed “disadvantaged” by the university admissions office. Third, student fees are often given to organizations whose purpose has little or nothing to do with the education mission — ethnic groups, gender advocacy groups, environmental groups, and social activists all siphon off the fees students are compelled to pay.
4) Universities no longer exist to advance knowledge and seek truth. The progressive academics running the institutions believe they already know truth and the purpose of the university is to indoctrinate students with their version of the truth. Free speech is frequently supressed on campuses if such speech is offensive to ethnic or religious groups, with the notable exceptions of whites and Christians.
5) Universities have no respect for the accomplishments of western civilization which make their existence possible.
6) University administrators accept no accountability for the quality of the product they produce.
7) There are no market pricing mechanisms limiting costs at universities. By controlling the accreditation agencies and colluding with government, academia keeps competition from developing. Plus the availability of unlimited student loan money from the federal government creates willing consumers (students) who apply no pressure on the universities to hold down costs.
The concept of education has become perverted over the past 50 years. The majority of students leave colleges and universities saddled with debt and lacking the skills required to compete in the marketplace of the 21st century. Meanwhile academics and government leaders continue to perpetuate the myth that a college education is essential to succeed in life.
Those schools have many professors who teach one or two classes a week and draw a 6 digit salary. Higher ed is all about rewarding loyalty to the socialist/liberal/Marxist cause.
Stop lending for Liberal Arts and BA degrees.
Only fund science, medical and engineering degrees.
Raise unit costs on liberal arts courses and lower them on science, engineering and medical classes.
Correct. If students are stupid enough to pay $50,000 a year, colleges are certainly not stupid to charge that.
Stop paying it for one year and see what happens.
Shouldn’t those fatcat professors take a pay cut?
There are some really bright students who may benefit by going to a really selective private college rather than a public university, and others who will benefit in their career from the networking they can do while attending a really elite college...but for a lot of people attending a public university or a less-expensive private college may be a wiser course of action.
The elite private colleges and "flagship" public universities are where professors are very well paid and have light teaching loads. At ordinary public universities (the ones you only hear about when their football team or basketball team is mentioned on the news), the regular faculty may have 3-3 or 4-4 loads, or sometimes more than 4 courses a semester.
Certainly it is the part-time instructors who are badly underpaid, but at some of these places even regular full-time faculty aren't paid that well--I know of a couple of professors who had to give up jobs at places they liked because the pay was too low for their families to live on (in both cases their wives could not work).
And because almost everyone will spend much more borrowed money than their own money, tuition will continue to rise exponentially.