Victor Davis Hanson’s post about higher education should be must reading for college administrators. The model is broken and it needs repair. Here’s part of what’s wrong:

Administrators used to come from among the top faculty, who rotated a few years from teaching and scholarship to do the unenviable nuts-and-bolts work of running the university. Now, administrators rarely, if ever, teach. Instead, they became part of a high-paid, careerist professional caste, one that has grown exponentially. In the CSU system, their numbers have exploded in recent years, a 221 percent increase from 1975 to 2008. There are now more administrators in that system than full-time faculty.

Recently, a professor at St. Cloud State insisted that professors that didn’t support tax increases didn’t want the best for their university. That’s an ill-informed opinion. This study highlights the wasteful spending at universities:

Even five years ago, $500,000 was considered an extremely high salary for a university president, whereas today a growing number make $1 million or more. Chief financial officers of universities that made $175,000 five years ago often make $300,000 or more today.

Going from $175,000 to $300,000 is a 71% pay increase. That’s 14% per year. Going from $500,000 five years ago to $1,000,000 is a 100% increase, or 20% increase per year.

These statistics are stunning:

At the California State University system, the largest university complex in the world, well under 20 percent of students graduate in four years despite massive student aid. Fewer than half graduate in six years.

That’s a major contributor to student loan debt:

The idea of deeply indebted college students in their 20s without degrees or even traditional reading and writing skills is something relatively new in America. Yet aggregate student debt has reached a staggering $1 trillion. More than half of recent college graduates, who ultimately support the huge college industry, are either unemployed or working in jobs that don’t require bachelor’s degrees. About a quarter of those under 25 are jobless and still seeking employment.

In 2012, I wrote a post titled “Overeducated and underemployed.” College degrees have been devalued:

On my visit to Chicago to learn more about this seemingly pointless degree, the director made a comment that has stuck with me. He said that the master’s is the new bachelor’s.

Now, here I sit, two years after graduating from the University of Chicago and the University of Minnesota, working a menial job in the service industry (luckily, I had contacts, otherwise I fear I would have been seen as an overqualified, underexperienced risk to most human-resources departments).

It’s time to dispel the myth that a college degree is a guaranteed ticket to prosperity. While it’s still worth something, choosing the right major quickly is important. Picking a nothing degree won’t help with unemployment high and not improving.

What might we expect in the future? Even more online courses will entice students away from campuses through taped lectures from top teachers, together with interactive follow-ups from teaching assistants, all at a fraction of current tuition costs. Technical schools that dispense with therapeutic, hyphenated “studies” courses will offer students marketable skills far more cheaply and efficiently. Periodic teaching contracts, predicated on meeting teaching and research obligations, will probably replace lifelong tenure.

Simply put, there isn’t a market for “hyphenated studies” degrees or classes. If something can’t support itself, it’ll eventually go the way of the dinosaur. Hard degrees will be in demand. Victimology degrees won’t have much of a demand. Online universities will flourish. Campuses won’t disappear entirely but they’ll change dramatically.

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