Gary Jason reports on a new study (by analysts from Bain & Co. and Sterling Partners) suggesting that colleges should not be complacent about their finances. About one third of the colleges surveyed have seen their financial conditions worsen over the past few years, the authors say. Schools have simply let costs rise (the “Law of More”) and made up the difference in tuition, which now represents 37.7 percent of the median family income (up from 23.2 percent in 2001).
University presidents seem to have their heads in the sand, however, as they continue to add administrators such as diversity officers. Writes Jason:
And UC San Diego has put in place a diversity course requirement for graduation, even as it has cut its master’s programs in electrical/computer engineering as well as in comparative literature.
There’s some seed corn here that colleges should be protecting.