College costs flat, for once
Commonfund Institute says colleges are saving money as costs fall
College costs have flattened, which ought to mean less ridiculous tuition hikes in the years to come.
"The fiscal-year 2010 Higher Education Price Index calculation (shows) the inflation rate for colleges and universities was 0.9%, less than half the 2.3% rate" last year, and a big drop from the high levels earlier in the 2000s, says the Commonfund Institute, which polled 843 public and private college and universities and community colleges for its annual survey.
Utility costs plunged to -15%, from +14% the year before. Supplies and material expenses also crashed, as paper prices flattened.
And yet... College manager salaries still rose 2%, thought that's down from 5.4% last year. Clerical and service salaries rose 1.4%. Professor salaries rose just 1.2%.