The ranks of the most expensive colleges have grown again: 100 institutions are charging $50,000 or more for tuition, fees, room, and board in 2010-11, according to a Chronicle analysis of data released last week by the College Board. That’s well above the 58 universities and colleges that charged that much in 2009-10, and a major jump from the year before, when only five colleges were priced over $50,000.
Also, note that the the $50K club now includes a public university. UC-Berkeley, arguably the most liberal public institution in the country, is now the most elitist — charging out of state residents over $50,000 a year (in-state tuition is a mere $27,000). Wouldn’t you know it, all that money taxpayers have been giving to subsidize higher education isn’t giving school administrators a big incentive to keep prices down…
No, wait. They’re just raising prices and getting rich:
Nearly four decades after Bernard Lander founded Touro College with a class of 35 students, the trustees decided that he had been underpaid during his tenure as president. To make up for the difference, they awarded him more than $4-million in deferred compensation in 2008.
Mr. Lander, who died in February at age 94, received a total compensation package of $4,786,830, making him the highest-earning private-college president, according to The Chronicle’s review of federal tax documents from the 2008-9 fiscal year. The review, which included 448 chief executives, found 30 private college leaders who received more than $1-million in total compensation. In the previous year’s report, 23 chief executives earned over $1-million.