Tag Archives: academia

The Hidden Culprit Behind Rising Tuition: Wall Street

In the lasts 15 years, student debt has grown by over 1,000% and the debt held by public colleges and universities has tripled.  Where is the money going?

The scholars behind a new report, Borrowing Against the Future: The Hidden Costs of Financing U.S. Higher Education, argue that profit is the culprit.  They write:

Scholars have offered several explanations for these high costs including faculty salaries, administrative bloat, and the amenities arms race. These explanations, however, all miss a crucial piece of the puzzle.

Sociologist Charlie Eaton and his colleagues crunched the numbers and found that spending on actual education has stagnated, while financial speculators have been taking an increasing amount of money off of the top.

Higher education fills the pockets of investors in three ways:

  • Interest on student loans, paid by students and parents.
  • Interest paid by colleges who take out loans to fund projects — everything from new academic buildings to luxury dorms and stadiums — ultimately repaid with tuition hikes and higher taxes.
  • And profit from for-profit colleges (with “dismal graduation rates, by the way).

Take a look at this figure breaking down the sources of the rise in the cost of higher education.  Interest on debt — taken on by both students and the colleges they attend — has risen.  Meanwhile, direct profits from for-profit colleges have skyrocketed.

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Overall, Eaton and his colleagues found that Americans are spending $440 billion dollars a year on higher education and that 10% of that goes into the pockets of investors who are skimming profit off of all forms of higher education.

Want more?  Read their report or watch their summary:

Cross-posted at Pacific Standard.

Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

Sunday Fun: Precious Academic Moments

Thanks to someone for this mash up of academia and Precious Moments figurines! About him or herself, he or she writes:

I’m the sort of person who (a) constantly saw, and was occasionally given, Precious Moments figures as a kid, despite finding them creepy; and (b) now makes a living in, and constantly thinks about, academia, despite finding it creepy.

Scroll through some of my favorites below or see them all!

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Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

Happy Birthday Jürgen Habermas!

Source: toonpool.

Have a scholar we should commemorate?  Send us a cool pic and we will!

Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

Saturday Stat: Salaries on University Campuses

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- PhD Comics.

Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

Saturday Stat: College Majors, 1970 to Today

How has the distribution of college majors changed? This graph, borrowed from A Backstage Sociologist, shows bachelor’s degrees conferred in the 1970-71 academic year and those conferred 41 years later.

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Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

Happy Birthday, Karl Marx!

tumblr_mne745a2Zu1rch2d7o1_1280By @ZachWeiner, borrowed from The Sociologist.

Have a scholar we should commemorate?  Send us a wacky pic and we will!

Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

What Do Professors Do All Day?

Anthropologist John Ziker decided to try to find out.  With his collaborators – Matt Genuchi, Kathryn Demps, and David — Nolin Ziker recruited a non-random sample of 16 professors at Boise State University and scheduled interviews with them every other day for 14 days.  In each interview, they reported how they spent their time the previous day.  In total, he collected data for 166 days.

It’s a small, non-random sample at just one university, but here’s what he discovered.

All ranks worked over 40 hours a week (average of 61 hours/week) and all ranks put in a substantial number of hours over the weekends:

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Professors, then, worked 51 hours during the official workweek and then, in addition, put in ten hours over the weekend.

What were they doing those days?  Research, teaching, and service are the three pillars of an academic workload and they dominated professors’ time.  They used weekends, in particular, to catch up on the first two.  The suspension of the business of the university over the weekend gave them a chance to do the other two big parts of their job.

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This chart breaks down the proportion of time they spend on different activities more clearly. Ziker is surprised by the amount of time faculty spend in meetings and I’m particularly impressed by the amount of time they spend on email.  Most professors will probably note, with chagrin, the little bars for primary research and manuscript writing.

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Interesting stuff.

This was just a first phase, so we can look forward to more data in the future.  In the meantime, I’ll add this data to my preferred answer when asked what I do all day:

5Cross-posted at Business Insider, Pacific Standard, Networked Scholar, and the Huffington Post.

Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.

Happy Birthday Abraham Maslow!

Maslow was a psychologist, famous for ordering human needs in terms of priority, but sociologists aren’t too picky, and this was too hilarious to pass up:

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At GeeksAreSexy. Thanks Dolores R!

Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You can follow her on Twitter and Facebook.