City College of San Francisco Teeters on Brink of Bankruptcy - John Clark, Total Bankrupcy

The City College of San Francisco may soon be filing for bankruptcy thanks to skyrocketing administrative costs, according to a recent report from the San Francisco Chronicle. Sources say that the faculty of City College is nearly double the size of the faculty at similar schools, but the college has roughly the same students as similar institutions. And City College, which is California’s largest public school, reportedly pays its teachers higher wages than those at other schools. So the larger faculty, coupled with higher costs, is threatening to sink the school’s finances. But the biggest problem for City College has been its failure to adapt to drastic reductions in state funding for higher education. Sources cite the school’s policies of retaining all of its teachers, refusing to raise tuition, and allowing 23 paid vacation days for all faculty members are financially irresponsible in light of the state’s budget cuts. http://www.totalbankruptcy.com/bankruptcy-news/filing-bankruptcy/city-college-san-fran-teeters-800142288.aspx