$140K per Hour and She'd be Underpaid !!

The cost of a college degree in the United States has increased "12 fold" over the past 30 years, far outpacing the price inflation of consumer goods, medical expenses and food.

According to Bloomberg, college tuition and fees have increased 1,120 percent since records began in 1978.

The average debt owed by New Jersey college graduates in 2012 was $29,287, according to the Project on Student Debt 2012. That’s up from an average of $27,610 in 2011 and $23,792 in 2010.

Most of New Jersey’s public colleges and universities do not pay their commencement speakers, though they often cover their travel expenses. Rutgers recently began paying speakers $30,000 to $35,000 in a bid to attract bigger names to its ceremony. The money comes from donations to the university’s foundation, not tuition or state funding, Rutgers officials said.*

Rice was scheduled to receive $35,000 for her Rutgers speech before she bowed out. (The speech was planned for 15 minutes - that's $140,000 per hour.) Kean, her replacement, has turned down the fee and Rutgers has not said if LeGrand will be paid for his remarks.

Kean University has also paid its speakers in recent years. Musician John Legend earned $25,000 in 2011 for a 15-minute speech and the performance of two songs. In 2006, Kean paid filmmaker Spike Lee $25,000 for a 10-minute graduation address (that's $150,000 per hour).

New Jersey colleges seem to want to give away over two years of tuition for a typical undergraduate student so as to have a "Big Name" commencement speaker? I think this shows the height of  arrogance and total disregard for the students who struggle to pay the exorbitant tuitions and fees these school demand.

*Should such donations be used to line the pockets of "Big Name" fifteen minute speakers? I certainly think it would be better used to help lower tuition costs if even just an iota! They say that university foundations pay the speaker fees?  Does that mean that when I get phone calls for contributions to Rutger's Foundations I  was being asked to contribute to this pompous folly.? I had no idea that might be the case!

Had I known I surely would not have contributed as I have done over the past fifteen years. The next time I am called I will be sure to ask if any of my money will be eligible for the "Big Name" speaker program? If  the answer is "yes" - I will just simply hang up the phone!