UC Undergrads: funding administrative profits

Bob Samuel’s just published in the Huff Post a solid rebuttal of some of the UC’s major claims about the financial situation. One thing I think we should never forget about the UC today is that its president earns, all told, over a million dollars a year, and that UCOP, a recently invented apparatus for “managing” a university that would probably do better without it, has doubled and tripled in size since its inception, sucking more and more money out of education and lining the pockets of all the new vice vice provosts of bla bla bla. Here’s one of the juicy parts:

However, the state also funded each undergrad in 2009 to the tune of $14,500. This means that the university made an instructional profit on each student of $15,553 for a total of $2.6 billion. In other words, teaching undergrads is a highly profitable business, and these students actually subsidize everything else universities do.

Instead of admitting that undergraduates bring in profits and financial investments have caused a fiscal crisis, the university is claiming that online education is the only solution to increased deficits and the need to enroll more students. In this version of virtual slums, the idea is to expand the number of underrepresented minority students in the UC system by offering them an online version of higher education.

The overpaid clown:”being president of the University of California is like being manager of a cemetery: there are many people under you, but no one is listening.”And by the way, I’m in the business of education, which I treat like a business: profit, profit, profit. Look at my salary, for example: about a million and a half a year, all told. Public mission of the university? Who needs that? Education? How about diploma factory! How about raising tuition and raising my salary while we’re at it!

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