It's pretty obvious that it's one of the reasons driving up cost. You can't have the government guaranteeing these loans and it not affect price at all- that's just basic supply and demand.
Also, as a former college administrator you know exactly where that extra tuition money is going, and it's certainly not to the professors. I don't know where you worked, but I've never heard of a professor making multiple hundreds of thousands of dollars off salary alone. Most of the professors with marketable expertise get money from research grants and consulting. Your point about engineering and tech jobs causing salaries to rise is completely untrue, and thats why professors are bailing out at record rates for private industry. Their salaries at university can be in the six figures, but most don't go much above that mark (of course, there are exceptions). Wages actually haven't risen that much for the average professor since the 1980's.
It's the administrators who are making in the mid six to seven figures, and we have more of them per school than ever. But since you're a former administrator, you must be aware of that, no?
conspires2help t1_j8hej75 wrote
Reply to comment by bubba-yo in College Tuition Has Outpaced Inflation by More Than 3x Over the Last 40 Years by ThePinkHulk
It's pretty obvious that it's one of the reasons driving up cost. You can't have the government guaranteeing these loans and it not affect price at all- that's just basic supply and demand.
Also, as a former college administrator you know exactly where that extra tuition money is going, and it's certainly not to the professors. I don't know where you worked, but I've never heard of a professor making multiple hundreds of thousands of dollars off salary alone. Most of the professors with marketable expertise get money from research grants and consulting. Your point about engineering and tech jobs causing salaries to rise is completely untrue, and thats why professors are bailing out at record rates for private industry. Their salaries at university can be in the six figures, but most don't go much above that mark (of course, there are exceptions). Wages actually haven't risen that much for the average professor since the 1980's.
It's the administrators who are making in the mid six to seven figures, and we have more of them per school than ever. But since you're a former administrator, you must be aware of that, no?