Posted on 12/20/2011 5:22:41 AM PST by Libloather
Colleges pay presidents millions while raising tuition
By Blake Ellis @CNNMoney
December 20, 2011: 5:22 AM ET
NEW YORK (CNNMoney) -- Some private colleges are paying their top executives millions of dollars, at the same time they're hiking tuition prices for students.
Vanderbilt University paid its chancellor, Nicholas Zeppos, $1.9 million in 2009, according to the school's most recent tax filings -- enough for up to 43 students to attend Vanderbilt at current prices. His total pay includes a base salary of $673,002, as well as bonus and other compensation.
That same year, Vanderbilt's tuition jumped 4.3%. Since then, the college has hiked tuition more than 3% annually, and now totals $41,332, according to the university.
His overall pay was actually 21.5% lower than it was the previous year, according to the school. Even so, Zeppos' 2009 base was almost four times the average professor's salary of $179,600, the college confirmed.
Zeppos "deserves the compensation he receives," said Mark Dalton, chairman of the college's Board of Trust, in a statement.
(Excerpt) Read more at money.cnn.com ...
And I have nothing against rich people who have worked for what they have — But most of these rich kids don’t know the meaning of the word work. Everything they have was given to them. They also tend to be liberal sissy’s, forever moaning about the evil corporations, yet never thinking of sending that unlimited credit card back to their parents.
I just wonder how on earth this country is going to continue to make it if in fact this continues. There is no way that this country will be able to function if and when we don’t keep getting the smart and intelligent out of the gutter (if they are born there) and get them going? Is America going to end up losing our smartest to other countries, when it used to be that other countries came here for opportunity to move up?
I think private colleges should restrict their funding sources from bank accounts, not public funds.
Do you suggest confiscating inheritances when the main maker of the fortune dies? Or just taxing people who end up making more than a certain amount?
I would suggest a draft though. That would help.
college costs up 900% since 1978...imagine the hearings Congressrats would be having if it were “Big Oil” prices.
“What lies at the root of it is many people, rich people included, do not raise their kids proper.”
I agree; too many of them are raised to be idle pleasure seekers and aren’t brought up to continue to work for the family fortune. Kids from prominent families used to be brought up to carry on the family name and behave well as a result. These days rich parents bring up their kids to be spoiled and self centered and impractical. They have no real direction.
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