“College costs have been rising nearly 5% a year for the past 10 years—more than double the rate of inflation. The annual cost for a four-year public college or university is now almost $9,000 a year for in-state residents and $22,000 for out-of-state residents, according to the College Board. Private colleges charge two or three times as much.
All these schools face rising costs for health insurance, technology, faculty and infrastructure but public institutions also suffer from a decline in state and local government financing.
Still, that doesn’t seem to have hurt the paychecks of the presidents of public universities. Their median pay packages jumped 5% to $441,392 for the 2011-2012 fiscal year, and a growing number of those presidents took in more than $1 million, according to an analysis by the Chronicle of Higher Education.”
See video discussion here: Presidents at Universities make millions as tuitions soar