Private colleges bolstered financial aid and decreased selectivity to help sustain enrollment in a downward economy, but a significant number still expect tuition and fee revenues to decline this year, according to a survey released today by Moody’s Investors Service.
The fast-growing group of millionaire private college and university presidents hit a new record in recent years, and it's likely more college leaders will make seven-figure salaries once the slumping economy rebounds.
The article discusses Covenant University in a town outside Lagos, Nigeria. As a privately run, Christian university, it breaks with a Nigerian tradition of free public higher education. The demand among Nigerian youth for higher education is beyond what the state can provide, leaving an opening for private institutions.
The presidents of the nation’s major private research universities were paid a median compensation of $627,750 in the 2007-8 fiscal year — a 5.5 percent increase from the previous year — according to The Chronicle of Higher Education annual executive compensation survey.
Wake Forest University and Elon University have both been named among the 100 best values in private higher education institutions by Kiplinger’s Personal Finance. Wake Forest ranked 25th on the list of 50 private universities that combine economic value with exceptional education, while Elon ranked 28th on the same list.
Shirley Ann Jackson, president of the Rensselaer Polytechnic Institute, was the highest paid private college president in 2007-2008, according to a report published today by The Chronicle of Higher Education.