Phi Beta Cons

How a University President Cleans Up (Financially)

College presidencies can be cushy sinecures. In this Boston Herald story, writer Howie Carr informs us about the former president of Bridgewater State University, Dana Mohler-Faria and his remarkable success in cashing in.

Mohler-Faria, a friend of Massachusetts governor Deval Patrick, is stepping down and will receive a pension of $183K per year. In addition, he has a contract as an adviser to the school that will bring him another $100K. Then, for his unused sick days and vacation time, he pockets nearly $270K. Nice work if you can get it.

Moreover, Mohler-Faria, a native of the Cape Verde Islands, managed five trips there at taxpayer expense. Maybe he was doing some research.

Carr’s piece mentions other cases of “honest graft,” referring to Tammany Hall’s infamous George Washington Plunkett’s preferred kind.

Big College, as Carr puts it, invites this sort of rent-seeking. Lots of money flowing and little or no accountability.

George Leef is the director of research for the John William Pope Center for Higher Education Policy.

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