The Victor$.

The Ann Arbor News, to their credit, put together an excoriating article on the skyrocketing tuition and out-of-control spending at the University of Michigan:

• The yearly tuition for in-state students has grown at over three times rate of inflation since 1990
• Despite state funding increases at 20% below the rate of inflation during this period, the University swelled its budget at twice the inflation rate.
• Much of this increased spending was not for instructional and classroom activities, but for student services, "community programs", and a 30% increase in the university workforce, with much of this hiring for high-paid adminstrators and research technical staff
• The University's capital expenditures - its aggressive building program - is being partially paid for by tuition increases
• The pay increases for tenured faculty salaries increased at a rate 20% above the inflation rate; for deans it rose at twice the inflation rate
• Half of the credit hours at UM are now taught by non-tenure track faculty and instructors; the number of professors increased by only 2%, non-tenure track instructors by 20%, while student enrollment rose by 9%

Why does the University of Michigan view itself beyond the common sense of a balanced budget? The state funding shortfall is only $50 million of a $1.2 billon budget - this is just out of control spending by UM, very cynically piled on the back of students, their parents, and Uncle Sam with low interest student loans.