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.
Unlimited student loans are one of the reasons costs are going up so high.
Almost all the money the state gives to the U of I goes to cover pensions.
Land and buildings were paid for generations ago.
Follow the money and you will see where the problem is.
Educations costs have exploded in the last 20 years far higher than they rate of inflation.
If higher ed needs more money they should reduce their massive diversity bureaucracy. Stop paying 7 figure salaries to Assistant Deans to the Vice Chancellor for Diversity
“Two decades of declining state appropriations”. Bull. SURS consumes all additional state funding. Twenty years ago, state university pension contributions were a quarter billion dollars. Today, it’s approaching $2 billion. You bookworms want a pension or not?
The UIUC now has +40% of it’s students from out of state. Many states limit the number of out of state students, e.g. UNC Chapel Hill is limited to a maximum of 10% from out of state – the thinking being in-state students should get those seats.
Since UIUC has been so successful getting out of state students, they should increase the out of state tuition dramatically if they need more revenue.
Does UIUC still have thier insurance policy against drop in wealthy chinese students?
The graduates of union-run public schools in Illinois are not qualified to get into UIUC