December 20th, 2011
02:27 PM ET

Colleges pay presidents millions while raising tuition

NEW YORK (CNNMoney) - Some private colleges are paying their top executives millions of dollars, at the same time they're hiking tuition prices for students.

Vanderbilt University paid its chancellor, Nicholas Zeppos, $1.9 million in 2009, according to the school's most recent tax filings - enough for up to 43 students to attend Vanderbilt at current prices. His total pay includes a base salary of $673,002, as well as bonus and other compensation.

That same year, Vanderbilt's tuition jumped 4.3%. Since then, the college has hiked tuition more than 3% annually, and now totals $41,332, according to the university.

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Filed under: After High School • College • Economy
soundoff (One Response)
  1. rlong

    They also keep the retiring or resigning pres. on the payroll, and put his hide ou......, or rather his office in a not so public area. (like under the library, hidden way)

    December 30, 2011 at 3:58 am |