College presidents are overpaid

Thomas Lifson:
For some reason, a widespread belief exists that the president of a college or a university (or even a 2-year junior college) deserves to live a life of luxury. No fewer than 30 higher education presidents are earning over a million dollars a year, compensation that rightly should outrage families indebting themselves to pay tuition.

The sad truth is that higher education has gone from being a calling to a racket, in all too many cases. And the rot extends from the top to the bottom of the status hierarchy. Arguably, higher education is the biggest industry on the country, and certainly for many families with children in college, it is the second most expensive purchase in a lifetime, after a house. That pile of money draws all sorts of scavengers.
There is much more.

These people are living like the one percent while making predatory loans to unsophisticated students to help pay for their life of luxury.  It is a scandal that the media has mostly ignored because these institutions are chocked full of liberals.


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