A GoLocal article on Community College of Rhode Island finances quotes Dr. Richard Vedder, Director of the Center for College Affordability and Productivity and Professor Emeritus of Economics at Ohio University’s College of Arts & Sciences.
Dr. Richard Vedder, who is the Director of the Center for College Affordability and Productivity and distinguished Professor at Ohio University, spoke with GoLocal as well about trends in higher education spending.
“Universities aren’t tightening their belts very much,” said Vedder. “Staffing has increased, spending has increased. Looking at college presidents — that has shown quite a bit of increase in the last number of years than say the salaries of faculty or people in the general population.”
Vedder, who is the author over several books including Going Broke by Degree, said, “There is a spending race going on in higher ed — it’s inconvertible. Costs are exploding.”
As for financing an education with loans — a “stop-gap way of financing,” according to Vedder, the professor was blunt. “The burden of borrowing has gotten too great — it could even come to an end. People are starting to say no to college.”
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