Ah yes, the world of big time college athletics. OU President David Boren made the following recommendation on Tuesday morning.
David Boren: “The most critical budget crisis in history of OU… will require a 7-percent increase in tuition and fees this year.”
— Guerin Emig (@GuerinEmig) June 21, 2016
OU’s Board of Regents approved the decision shortly after.
The decision comes in the wake of the University receiving roughly $20 million less in state appropriations than it did a year ago.
“The most critical budget crisis in history of OU … will require a 7-percent increase in tuition and fees this year,” OU President Boren said.
This is the biggest tuition increase OU has approved since 2008 and the third largest hike in the last 10 years. Boren said OU faces a 17 percent budget deficit.
OK, well on the same day, we get this news:
Regents approved a $900,000 a year for #OU offensive coordinator Lincoln Riley. Mike Stoops gets virtually the same. #Sooners
— John Shinn (@john_shinn) June 21, 2016
And to put this in perspective of last season:
Riley made $500,000 last season. Stoops was at $850K. #Sooners https://t.co/QXALgKanmd
— Spenser Davis (@Davis_Spenser) June 21, 2016
So, the University is about to raise the tuition on Little Johnny and Sally by 7%, which is anywhere from $700 to $1,700 per year, depending on in-state or out-of-state costs. But, the University then gives Lincoln Riley an 80% raise. WTF?
Don’t get me wrong, I realize that Riley could have taken another job this offseason, with possible head coaching offers on the table. Also, I realize there are a handful of assistant coaches that making $1 million+ per season. But, something about this stinks.
Despite the fact that OU and the other Big 12 schools are making more money than ever, these schools cannot find a way to keep tuition costs down (or at least growing at a more appropriate pace) while not skyrocketing coaches salaries?
And yes, I’m well aware of the fiscal crisis in Oklahoma stemming from the oil and gas downturn. But, they are doing massive stadium renovations. Those aren’t paying for themselves.
As time goes on, college is simply becoming a four-year hiatus for the upper middle class. There is less than 10% of what is learned in college that will translate to real life. The costs are growing at an unsustainable rate and the guarantee of a good job is usually not there. My neighbor is an electrical contractor and owns two homes. Trade schools will be the way of the future. Unless, money is no factor.
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