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Excessive Costs of College Education
A recent column in the Dayton Daily News reports that there are typically six professional level non-teaching employees for every 100 students in state universities. It also notes that the typical full professor spends only five hours in the classroom each week. These charges should be investigated.
At Ohio State University, President Gordon Gee makes over $2 million annually. The provost makes over $500,000. 40 of his staff make over $400,000. 70 make over $300,000. 154 make over $250,000. By way of contrast, the governor of Ohio makes about $150,000. To say that university salaries are bloated is an extreme understatement.
On May 7, 2006, 60 Minutes had a segment on excessive costs charged for student loans by the government sponsored but private student loan organization known as Sallie Mae. The gist of the presentation was that students were being saddled with high interest costs while Sallie Mae enjoys high profits and its administrators high salaries. Colleges are given large fees (kickbacks) for steering students to Sallie Mae. Congress has provided Sallie Mae with special exemption from student bankruptcy protections. Sallie Mae was said to have one of the largest and most effective lobbyist efforts on Capital Hill. Perhaps, this is another example of the costs to the public of electing politicians who are in the pockets of lobbyists.
My proposal for Internet based home study courses could be a viable alternative.