A paper released today by Richard K. Vedder, a professor of economics at Ohio University and founder of the Center for College Affordability and Productivity, argues that, contrary to popular belief, the United States is too invested in its universities, and much of that investment is wasted. Mr. Vedder also says that most incremental appropriations to higher education lead to higher spending rather than lower tuition, and new funds often go to noninstructional purposes, such as administrative salaries, student services, fancy recreation facilities, intercollegiate athletics, and research.
Mr. Vedder outlines what he says are 12 reasons for rising prices in higher education, including high administrative costs and an inefficient model for paying the bills.
The report, “Over Invested and Over Priced,” is available on the Center for College Affordability and Productivity’s Web site. —JJ Hermes