Big Education cycle:
1)make unlimited taxpayer subsidized loans to students
2)charge them outrageous tuition
3)pay ginormous salaries to profs and admins
4)profs and admins donate to Democrats
It works well...for them....
1)make unlimited taxpayer subsidized loans to students
2)charge them outrageous tuition
3)pay ginormous salaries to profs and admins
4)profs and admins donate to Democrats
It works well...for them....
There, fixed that.
The money from tuition increases goes almost entirely into administration, "ginormous salaries" as you said, and increasing the numbers of Associate, Assistant and Vice Chancellors, Presidents, Provosts and Deans and secretarial staff for the same. In the 23 years I've been at the university where I am currently employed, the number of administrators and support staff has increased by 50%, top administrators have given themselves raises on the order of 8% per year, while faculty remaining within the same rank have had their purchasing power eroded by inflation (and no, our promotion raised were not princely), and the number of faculty shank by .4%. This is typical, as is the shift from full-time faculty to adjuncts paid by the course (a trend my university has thus far bucked), while administrators continue getting fat raises and even corporate-style bonuses (yes, bonuses to administrators at public universities).
There is a book by a professor from Johns Hopkins entitled The Fall of the Faculty: the Rise of the All-Administrative University that documents the trend.
It's all part of the Era of Bad Stewards: fiduciaries (in this case university administrators) acting as if their positions exist for their own enrichment, rather than those they are supposed to be serving (in this case the faculty) -- yes, the faculty, the university as part of the patrimony of Western Civilization the left has been trashing is defined by its faculty, not the students who pass through it. And yes, easy credit created at government behest plays the same role in the feathering of the nests of various and assorted university administrators that it plain in fat bonuses for Countrywide and Goldman Sachs executives.