How concerned should we be about inflation? How worried should we be about rising costs in higher education? According to a statement made by previous congressman in 2013, Russ Carnahan, “Congress has not raised the minimum wage since 1997, and it is now at its lowest level in 50 years adjusted for inflation” (Russ Carnahan). Alongside this critics point out that the schools are raising tuition at rates exceeding inflation (Weisbrod, 2011). In today’s society a college education is glorified as a quintessential factor in being ’successful’ in life. However, with the significantly high cost of tuition and drastically low minimum wage the average family would not be able to afford it without adjusting their livelihood thus forming a financial
…show more content…
According to the sensitivity analysis in figure five of HEPI for fiscal year 2013, there has been a five percent increase in faculty (Commonfund, 2013). Although there was a five percent increase in miscellaneous service as well, it does not affect the HEPI as much due its lower cost. Perhaps even more notable than the faculty salary or miscellaneous service inflation, the supplies and materials costs exploded from a deflationary percentage in fiscal year 2010 to an eight and two-tenths percent inflation rate. With so many increases across the aboard, it comes as no surprise that the cost of colleges and universities are steadily rising.
Over the past ten years index values for Administrative Salaries, Fringe Benefits, and Utilities have increased more than any other categories. The cost of administrative salaries and fringe benefits has risen every year in the past decade. Its 2013-index value of 343.2 represents a 243.2 percent price increase over 1983 values. This change can also be expressed in monetary terms so that $100 towards administrative salaries in 1983 would be $343.20 in 2013. The administrative salaries are not heavily weighted though, only 10 percent. (Commonfund, …show more content…
Their listing was informed by an environmental scan of the economic, political and policy landscape surrounding public higher education, as well as a review of recent state policy activities and trends. Some issues are perennial in nature, while others reflect attention to unexpected conditions (i.e., the aftermath of the recession). They acknowledge the fact that the effects of any given issue will fluctuate substantially across individual states, but operating support from the state for public higher education leads off the list. A different matter arising from this document, not previously illuminated by HEPI, is the issue of college readiness. For numerous decades, scholars have recognized the gap between high school and college expectations. They note that “even students who complete a college- preparatory curriculum in high school are often poorly prepared for college” (Hurley, p. 2). This deficiency in preparation endorses high collegiate remediation rates, encumbers college completion, while continuing the extraction of resources from the college or
According to the sensitivity analysis in figure five of HEPI for fiscal year 2013, there has been a five percent increase in faculty (Commonfund, 2013). Although there was a five percent increase in miscellaneous service as well, it does not affect the HEPI as much due its lower cost. Perhaps even more notable than the faculty salary or miscellaneous service inflation, the supplies and materials costs exploded from a deflationary percentage in fiscal year 2010 to an eight and two-tenths percent inflation rate. With so many increases across the aboard, it comes as no surprise that the cost of colleges and universities are steadily rising.
Over the past ten years index values for Administrative Salaries, Fringe Benefits, and Utilities have increased more than any other categories. The cost of administrative salaries and fringe benefits has risen every year in the past decade. Its 2013-index value of 343.2 represents a 243.2 percent price increase over 1983 values. This change can also be expressed in monetary terms so that $100 towards administrative salaries in 1983 would be $343.20 in 2013. The administrative salaries are not heavily weighted though, only 10 percent. (Commonfund, …show more content…
Their listing was informed by an environmental scan of the economic, political and policy landscape surrounding public higher education, as well as a review of recent state policy activities and trends. Some issues are perennial in nature, while others reflect attention to unexpected conditions (i.e., the aftermath of the recession). They acknowledge the fact that the effects of any given issue will fluctuate substantially across individual states, but operating support from the state for public higher education leads off the list. A different matter arising from this document, not previously illuminated by HEPI, is the issue of college readiness. For numerous decades, scholars have recognized the gap between high school and college expectations. They note that “even students who complete a college- preparatory curriculum in high school are often poorly prepared for college” (Hurley, p. 2). This deficiency in preparation endorses high collegiate remediation rates, encumbers college completion, while continuing the extraction of resources from the college or