Education: WVU buyouts needed to reduce costs
It was predictable that West Virginia University’s Board of Governors earlier this month approved tuition increases. What may not have been expected is that the boost was at the lowest percentage since the 2010-11 academic year.
Then, last week, the other shoe dropped: WVU began offering voluntary buyouts of the contracts of some veteran employees. The move is in an attempt to reduce personnel and supply spending by $14.8 million.
University officials hope the action will trim their payroll by about 130 people.
Even though the buyouts are being offered only to those who volunteer for them, the action will prompt some criticism.
But holding down the cost of higher education — not just offering students more opportunities to take on mountains of debt — may be the critical task facing colleges and universities. Certainly they are not the only branch of state government that MUST begin the task of trimming the fat if it is to best serve the Mountain State; and university officials say this move is part of continuing efforts to reduce operating costs and prioritize funding for strategic initiative investment..
Good for the board of governors and others at WVU for facing up to the challenge.