GO
Loading...

Presidential farewell packages drive up college costs

Getty Images

The former president of Brandeis earns $600,000 a year, even though he no longer teaches. Wellesley paid a former president $430,000 a year for two years after she retired. Northeastern pays a former president a pension of almost $210,000 a year, while he also teaches classes.

Those were some of the rich packages for former university leaders documented by the Boston Globe, which reported on the effects of executive compensation on tuition.

The Globe reported that the cost of higher education has risen 70 percent in the last decade, while the number of administrative jobs has increased 57 percent.

(Read more: College costs soaring but aid isn't)

The former Brandeis president, Jehuda Reinharz, defended his compensation to the paper.

"I am compensated according to my accomplishments,"he told the Globe. "It's the way America usually works."

For the full report clck here.


Contact College

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More*

Suze Orman Show

$ave Me