The American capitalist system is a tremendous example of a financial engine which has raised the standard of living for citizens, particularly over the past two or three generations. Per capita income has never been higher and we’re living much longer.

Schools of higher education, traditionally, have either been publicly run or privately held, with very few for-profit institutions out there. Rigorous government educational standards plus competition from well established schools made for-profit schools a difficult undertaking, but that all began to change in the 1980s when a commercial school by the name of the University of Phoenix (UP) got started. Today, UP has the most students enrolled of any school in the country with many of their students taking classes online and on their own time.

UP isn’t the only commercial school out there. In fact, this segment of education is one of the fastest growing in higher education. With growth, has come problems including lower admission requirements, funding problems, inadequate facilities and a perception by some that the degree or certificate the student receives is of lesser value than what a public or private school has to offer.

One school in New York is closing, Interboro College, due to the lack of funds available to meet stricter admission requirements imposed by the state of New York. Students will be able to finish out the semester before the school closes and will have the opportunity to transfer to another school run by the company managing Interboro. For its part, New York has moved to limit the number of commercial colleges in a bid to control their explosive growth and attendant problems.

SayCampusLife will be keeping tabs on the commercial college phenomenon. We believe you should choose where and how you will be educated, but we’ll also point out problems in the educational system to keep you informed.

Tags: commercial colleges, higher education, Interboro College, regents, University of Phoenix

Every year college football coaches are fired, retired or leave for better paying opportunities. Keeping a coach at a school for the long haul is a difficult task for particularly those with programs not considered to be in the top tier. Even the best programs will fire a coach if he doesn’t live up to expectations as a 9-3 season can be a major disappointment for fans. Getting to a bowl game isn’t always good enough — a BCS bid with a shot at the national championship is what is expected at some schools.

Earlier this month, USA Today ran an article titled, “College Football Coaches Calling Lucrative Play,” which discussed the salaries of major college football coaches. For the first time the average salary of big time program coaches has topped $1 million annually, a 9% increase over the previous year. This amount doesn’t include other perks which can include a housing allowance, car, country club membership and more.

Salaries continue to rise as competition for top notch coaches heats up. One college, fearing that their ace coach will leave, will offer a huge raise and extend the coach’s contract by several years. Another college will scour the coaching ranks and offer a successful coach at a smaller program the chance to go big time and lure him away from his school (Navy’s Paul Johnson recently left the military academy to become Georgia Tech’s new coach).

Four coaches have cracked the $3 million annual salary mark with 50 coaches now making at least $1 million annually. On the other hand, few college presidents are making more than $500,000 annually leading some to question the reasoning behind paying coaches so well. Given that alumni support is imperative to the success of so many schools, a losing football program (or basketball) could mean that those funds could be withheld or cut back.

I’m not one to advocate that the NCAA step in and regulate salaries, but I must confess that the monies being paid to retain some coaches could possibly be used elsewhere. It isn’t just salaries and perks that put pressure on universities — most successful coaches want facilities expanded or built to attract the recruits who can help their programs stay strong or improve. In that case the stadium upgrades amounting to tens of millions of dollars is yet another cost universities must take into consideration.

Tags: BCS, college coaches, college football, football salaries, Georgia Tech, Navy, NCAA