Word: tuitions
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Directly or indirectly, this $72 million in bonuses to five employees crowds out funds that would otherwise be available to boost pay at the low end of Harvard’s wage scale—or to restrain tuition increases and debt burdens imposed on students and their families. As the endowment has grown, one would think the economic burdens on students and their families would be alleviated. Not so. Every year since Bok’s retirement, tuition has risen by the rate of inflation only once. Every other year, it rose by substantially more than inflation?...
...years since we entered college, adjusting for inflation, tuition has tripled. When we were freshmen, in 1965, annual tuition was $1,760, the equivalent of $10,912 in today’s dollars. In 2005-06, it’s $32,097, three times greater...
...These tuition costs, and the debts required to meet them, can have lifelong impacts. They force many recent graduates to work for top dollar, making it far more difficult for them than it was for us to enter public service, teaching, the arts, or wherever else their ideals and education might lead them. Through the last decade, for just a fraction of what Harvard spent on fund manager bonuses, it could have frozen tuition at all its schools. For just a fraction of the recent (inflation-adjusted) growth in the endowment, Harvard could have forgiven the college and graduate school...
...sake of current and future generations of students, this ever-rising spiral of tuition and debt must be broken. Very soon, Harvard is scheduled to announce its tuition for 2006-07. Last year, the endowment rose by roughly $2.5 billion. Given this, will Harvard once again add to the financial burdens on students and their families? If any tuition increase is in fact announced, we urge Bok to intervene, as interim president, to postpone it, pending an inquiry into whether part of the University’s recent growth in wealth could be used to offset the need for more...
...embarrassingly so for a college that has shamelessly shirked away from finding ways to reduce the financial burden of coursepacks. First, for most courses, a bulk of the readings are accessible through the Harvard Library E-Resources, a service for which students already pay copyright permissions in their tuition. Students threw away $40,560, for instance, on the 30 readings in the Ec10 coursepack this semester; all those readings are available for free on E-Resources. In fiscal year 2005 alone, over $4 million was spent by students to pay for the 6,820 e-books and e-journals available...