Thursday, October 23, 2003

Embarassed to make a buck 

Part of my problem in family life is that nobody understands my moments of glee around the house. When I read this article (it's the SC Times, so if you're not reading today you're going to have to scour the archives for it) quoting our associate VP for administrative affairs (a.k.a., Budget Lady) saying "Summer session was never intended to be a for-profit endeavor," I broke out into peals of laughter at breakfast. The nine-year-old-know-it-all gave me a disgusted look. (I just finish with one teen, and the little one decides to be precocious. Damn.) Now I know Budget Lady took economics, so let me remind her: support services and utilities are mostly fixed costs, unless you mean to close the buildings, turn off the electricity and lay off all the support staff for the summer. We made $1.4 million. Let's be happy. Also interesting, credit-taking was up 3% in the summer over a year ago, just ahead of a 15% tuition increase starting fall. For extra credit, calculate the elasticity.

UPDATE: Douglas Bass sends a note that our experience with tuition increases is about average.