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Friday, February 14, 2014

Administrator Hiring Drove 28% Boom in Higher-Ed Work Force, Report Says

It's amazing the increase in Administrators at Colleges, which has led to higher college costs. The huge increase in college costs is a huge problem, as seen by the average debt is now $29,400 with an overall 1.2 Trillion Dollars in college debt, which is more than the Credit Card debt in the US. 7 in 10 College Graduates graduate with student debt. And then there is the 40% who do not graduate college within 6 years. And what is worse, is faculty salaries are basically flat from 2000 to 2012. Many teaching positions have gone to associate Professors, who are part time. There are more and more rules / regulations, which is also driving the cost of compliance that is increasing administration cost. Colleges have also engaged in an arms race, with adding more and more non-educational benefits to entice students to enroll.

I am glad my daughter is almost graduated! She will have finished within 3 years at a very good state school with no student debt.

References:
http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/ - CNN
Risky Business: Why Student Loans Are The Worst Way To Fund College - Forbes
Student Loans, the Next Big Threat to the U.S. Economy? - Business Week
Administrator Hiring Drove 28% Boom in Higher-Ed Work Force, Report Says - The Chronicle of Higher Education

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