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Years of declining enrollments, combined with a decade-plus of state underfunding, are finally coming to a head in Illinois as some public colleges are staring down gaping budget deficits with no quick and easy fixes in sight.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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So much of public K-12 and college employment in IL appears to be a ‘jobs program’ for public union employees. Education is a secondary byproduct of it all. Simply by bringing employee headcount into alignment with enrollment, and insuring employee compensation is at the median for the region there will be enormous budget surpluses at current funding levels. Tuition could then be reduced to be competitive with surrounding states. But the Leftist Democrats won’t do any of that.
Pathetic reporting makes no mention of Illinois state univ tuition costs being 3rd highest nationally (per IPI).
They keep saying properly funding. what does that mean? None of these articles ever say, “here’s how they’re underfunded.” Are their delayed capital projects like dorms and classrooms are old? Or do they merely desire to have more programs and choices and more funding means hiring more teachers. Or do they mean the DEI staff is too small and they want to hire more? Or all of the above! I could argue my household is ‘underfunded’ because I need about a million more dollars a year. I want several FL vacations a year, I want to spend Spring in Tuscany,… Read more »
“… with no quick and easy fixes in sight.” When the demand for a product of a private-sector company decreases, the company will reduce the number of employees, reduce salaries, or both; aka quick and easy fixes. Many of us were on the receiving end of such actions in our careers. Guess what, we got back up, dusted ourselves off, and found other jobs. Are you reading this, IL public universities?
Declining enrollment and “state underfunding”. So, its the state’s fault. It couldn’t be that people can’t afford college. It couldn’t be that people have figured out that there is no value. Couldn’t be that management of the university needs to…ya know…manage the friggin university. It would seem that with all the high end degrees and arrogance displayed by most educators, that some one here could figure out how to make the incoming revenue, match the out going costs. Just another example of the bottomless pit of education and Illinois schools.
These are people who believe that they should automatically receive extra compensation if they get a masters degree, and the taxpayers should pay for the degree. 2nd grade teacher gets masters in education, pay me more forever. Who cares if a masters is needed to teach 2nd grade? That is irrelevant to them.
They do not even understand the concept of matching cost to revenue.
Don’t hate the player hate the game. If I am to make +xy for a worthless degree, I will do it. If the school is also going to pay for it even better. The whole compensation system of schools is messed up.
Agree. Most teachers are just taking advantage of the insane system in place. But I must point out that the insane system is in place because teachers overwhelmingly support it.
University of Illinois could probably save a lot of money if they eliminated their 150 person DEI office. Just trying to offer a helpful solution. You’re welcome.
Please tell me you’re exaggerating when you mentioned a 150-person DEI office.
Could well be true. We found 79 through FOIA requests but that’s likely an undercount since titles disguise roles sometimes:https://wirepoints.org/dei-continues-to-flourish-at-the-university-of-illinois-even-as-universities-across-the-country-scale-back-programs-wirepoints/
Time to pony up more tax dollars to “properly fund” your failing ridiculously priced colleges and universities that nobody, except chinese people, want or can afford to attend. I think an income tax rate of 15% is appropriate. Maybe then U of I can cut tuition on the 50% of their enrollment from China.