Wednesday, August 3, 2016

Student Loans - An insidious crisis

It might be a little different if colleges and universities had used this burgeoning revenue stream to actually improve education delivery and quality.


St. Petersburg, Fl
Opinion by: E. Eugene Webb PhD
Author: In Search of Robin
  
Dianne Morrison-Beedy left her job as Dean of the University of South Florida College of Nursing and President of USF Health at the end of June.

Apparently, there was some controversy at the College of Nursing as reported by Tampa Bay Times Staff Writer Anastasia Dawson USF nursing school dean steps down, but reason is unclear.

What caught my attention was Ms Morrison-Beedy's annual salary of $362,846, which she will continue to receive for a year plus "$50,000 to cover research and professional development costs during that time."

The average Nurses' salary in the US is based on years of experience.
Less than 1 year $47,841.50
1 to 4 years         $53,073.50
5 to 9 years         $63,628.50


From the Wall Street Journal: The average nursing class of 2015 graduates with student-loan debt will have to pay back a little more than $35,000, according to an analysis of government data by Mark Kantrowitz, publisher at Edvisors, a group of websites about planning and paying for college. 

Ms. Morrison-Beedy owes her great deal of her good fortune to the  absolute greed of those who promote, operate and protect the student-loan  business and the colleges and universities that take advantage of the easy money.

If you drive to Orlando, you cans see another result of student-loan revenue extravagance in the UCF Administrative building just off I-4.

It might be a little different if colleges and universities had used this burgeoning revenue stream to actually improve education delivery and quality but in far too many cases, it has simply been used to bloat administrative staffs and their salaries.

If you are a recent USF nursing graduate, a great deal of your college debt was spent to finance exorbitant salaries for college administrators and to support an industry that in the last, decade has totally mortgaged the future of a generation of college graduates.

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Disclosures:

4 comments:

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