(Replying to PARENT post)
"Well, we inflate tuition so we can give enough assistance so we don't have to pay taxes, because that makes use a tax exempt charity. And then we stuff nearly all the money into our endowment. Which is quite a lot because it barely takes the tuition the freshman class pays to pay for all the education of all of the students we have. And then we expand the Administration so we can milk more alumni and donors."
👤downrightmike🕑2y🔼0🗨️0
(Replying to PARENT post)
👤archo🕑2y🔼0🗨️0
(Replying to PARENT post)
“Prior boards were merely ceremonial. If you’ve got a board that never asks about financials and just wants to talk about winning the next game or when the cocktail party is, they are not going to get a lot done,” he said.
I had a trustee (of a private institution) tell me "We just approve whatever the administration sends us." I'd long suspected that was the case but was shocked to hear someone say it out loud. I guess if you asked too many questions you wouldn't be re-nominated and you'd miss out on the dinners, swag, and honoraria.
👤quercusa🕑2y🔼0🗨️0
(Replying to PARENT post)
Colleges spend like there’s no tomorrow
Previous Discussions on HN: (3-comments - 2023-08-11) : https://news.ycombinator.com/item?id=37090454
Previous Discussions on HN: (7-comments - 2023-08-10) : https://news.ycombinator.com/item?id=37074472
👤archo🕑2y🔼0🗨️0
(Replying to PARENT post)
Somebody has to pay for all those failed politicians going into the ever-so bloated college administrations.
👤egberts1🕑2y🔼0🗨️0
(Replying to PARENT post)
Higher ed is too important to be left to professionals, it seems.
👤euroderf🕑2y🔼0🗨️0
(Replying to PARENT post)
This is also adjacent to my views around student debt relief. I will never support any student debt relief that doesn't hold schools accountable for producing huge numbers of graduates with economically useless training. Schools need to be saddled with a large share of that liability, not just taxpayers.