Contents
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1. |
Introduction |
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1.1 |
Preface |
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1.2 |
Structure |
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1.3 |
Budgets don’t make decisions, people do |
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1.4 |
Notes on data |
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2. |
Institutional Revenues |
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2.1 |
How big is the university budget? |
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2.2 |
How big is the university by enrollment size and growth? |
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2.3 |
Are budgets growing or shrinking over time? |
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2.4 |
Where does the revenue come from? |
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2.5 |
How does the revenue mix differ by type of institution? |
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2.6 |
How much is tuition? |
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2.7 |
How fast has tuition increased, and why? |
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2.8 |
What is included in tuition and fee revenue? |
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2.9 |
How much revenue do institutions receive per student? |
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2.10 |
What are the trends in per-student revenues? |
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2.11 |
Why isn’t all revenue treated the same way? |
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2.12 |
Why worry about state appropriations and investment income if tuition dominates? |
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2.13 |
What is the revenue significance of out-of-state and international students? |
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3. |
Institutional Expenditures |
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3.1 |
Where does all the money go? |
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3.2 |
How does investment in major functions differ by type of institution? |
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3.3 |
What do institutions spend per student? |
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3.4 |
What are the trends in per-student spending? |
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3.5 |
What share of costs are covered by tuition versus subsidy? |
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3.6 |
Do out-of-state students subsidize in-state students? |
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3.7 |
Why do higher education costs rise so much? |
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3.8 |
What can be done to control costs in higher education? |
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3.9 |
Does the university make a profit? |
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4. |
Public Funding: Grant Aid, Loans and Appropriations |
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4.1 |
How does public funding for higher education work? |
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4.2 |
How does aid add up on a per-student basis? |
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4.3 |
What proportion of students get state aid, and how much do they get? |
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4.4 |
How does public financial aid vary by institution? |
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4.5 |
What are the amounts and trends in student loans? |
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4.6 |
What is the history of state investment in higher education? |
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4.7 |
How have state appropriations changed by type of institution? |
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4.8 |
How much does each state spend per student? |
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4.9 |
Where has state spending gone instead of higher education? |
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4.10 |
When did tuition revenue overtake state revenue? |
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4.11 |
Do state funding cuts increase tuition? |
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4.12 |
Does performance funding work? |
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4.13 |
Can’t we simply privatize a public university? |
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4.14 |
How are universities funded in other countries? |
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5. |
Human Resources |
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5.1 |
What is the organizational structure? |
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5.2 |
How many employees are there? |
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5.3 |
How much are employees paid? |
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5.4 |
What is the size of the faculty? |
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5.5 |
How has faculty composition changed by rank? |
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5.6 |
What is the proportion of part-time faculty members? |
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5.7 |
How much do the faculty earn? |
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5.8 |
What are the types of support staff and their salaries? |
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5.9 |
Is administrative bloat a myth? |
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5.10 |
How do we account for graduate assistants? |
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5.11 |
How much do graduate assistants earn? |
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5.12 |
How much are employee fringe benefits and costs? |
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6. |
Academic Affairs |
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6.1 |
What does a college budget include? |
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6.2 |
What is RCM or activity-based budgeting? |
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6.3 |
What is the cost of producing a degree? |
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6.4 |
How does the cost of degree production vary by discipline? |
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6.5 |
Do the humanities cross-subsidize the STEM fields? |
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6.6 |
How have popular majors shifted over time? |
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6.7 |
What does it cost to run a graduate program? |
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6.8 |
How much do the faculty earn by discipline? |
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6.9 |
What are the financial implications of tenure? |
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6.10 |
How do we account for faculty time and workload distribution? |
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6.11 |
What is happening in online higher education? |
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6.12 |
What is the budget role of international programs? |
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6.13 |
What are the trends in library expenditures? |
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6.14 |
How much do we spend on information technology? |
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7. |
Student Affairs |
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7.1 |
What are the numbers for recruiting and admissions? |
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7.2 |
What are the academic and financial profiles of the incoming class? |
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7.3 |
How much aid are incoming students awarded by income level? |
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7.4 |
How much aid goes to need versus merit? |
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7.5 |
How is tuition discounting used? |
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7.6 |
Why do students drop out and what proportion are retained? |
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7.7 |
What are the patterns and trends in graduation rates? |
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7.8 |
What are the trends in student services spending? |
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7.9 |
What is the total cost of attendance with room, board, and books? |
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7.10 |
How has affordability changed? |
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7.11 |
How much debt do students have at graduation? |
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7.12 |
What are the rates of student loan repayment? |
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7.13 |
What is going on with textbook prices and spending? |
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8. |
Research |
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8.1 |
What’s in the research budget, and how big is it? |
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8.2 |
What are the trends in research expenditures? |
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8.3 |
What is the research funding mix by discipline? |
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8.4 |
Why do universities lose money on research? |
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8.5 |
Which are costlier to support, graduate assistants or postdocs? |
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8.6 |
How much does research compliance cost? |
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8.7 |
How does the university earn money from technology transfer? |
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9. |
Public Service, Cooperative Extension, and Community Engagement |
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9.1 |
Where’s the land grant money, and how does it fund cooperative extension? |
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9.2 |
What is the business model for performing arts centers? |
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9.3 |
How are university museums paid for? |
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9.4 |
How is a university press supported? |
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10. |
Facilities & Finance |
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10.1 |
What do campus buildings cost? |
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10.2 |
What are the trends in campus construction and deferred maintenance? |
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10.3 |
How much is the university’s “mortgage” and debt payment? |
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10.4 |
How much is the campus energy and utility bill? |
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10.5 |
Does the university have a rainy-day fund? |
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10.6 |
Why isn’t parking free? |
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10.7 |
Do public-private partnerships and outsourcing save money? |
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11. |
Health Sciences, Hospitals & Medical Schools |
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11.1 |
How do hospital budgets compare to main campus budgets? |
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11.2 |
How are medical schools funded? |
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11.3 |
How much are medical school faculty salaries? |
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11.4 |
What is the mix of health science research funding? |
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12. |
Athletics |
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12.1 |
How big is the business of college sports? |
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12.2 |
How important are subsidies and media revenues in athletics? |
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12.3 |
Is the number of student athletes increasing? |
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12.4 |
What are the trends in athletics spending and where does the money go? |
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12.5 |
Which sports make or lose money? |
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12.6 |
Do all head coaches earn millions? |
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12.7 |
Does athletic success benefit the university’s bottom line? |
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13. |
Fundraising |
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13.1 |
How much do universities raise in gifts? |
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13.2 |
Who is giving, and what are they supporting? |
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13.3 |
How big are endowments and how much have they grown? |
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13.4 |
How does a university endowment work? |
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13.5 |
Are fossil fuel divestment and socially responsible investing financially viable? |
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13.6 |
How does the business of university fundraising work? |
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13.7 |
What role do alumni donors and associations fill in fundraising? |
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14. |
Outcomes & Futures |
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14.1 |
What are the financial benefits of a degree? |
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14.2 |
Do university rankings have a financial impact? |
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14.3 |
What is the economic impact of a university? |
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14.4 |
Our business model: what is it and how do we manage it? |
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14.5 |
Which schools are most at risk for closing, especially with COVID-19? |
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14.6 |
What are the long-term financial futures for higher education? |
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Epilogue |
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Acknowledgements |
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About the Author |
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Appendices |
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Appendix A: Institutions in the Data Set |
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Appendix B: Land Grant Institutions |
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References |
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Figures |
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Box Figures |
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Tables |
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Boxes |
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Index |
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