Thursday, April 22, 2010

LCC Credit Money

I just blogged some about my earnings from LCC. The next question is how much money LCC gains from my employment.

My average class size is 28 students. Each student pays $81 per credit*, so $243 for 3-credit classes like Math 20 or Math 25. That makes $6,804 per class.

My take-home pay is about $700 per month, which is about 86% of by before-deduction pay. A term is 10 weeks. So my "salary" including deductions is close to $2,000 for the class.

So the cost of paying me is only about 30% of the money the college collects from the credit cost the students pay.**

I have heard in faculty discussions that a class with 12 students "breaks even "financially. This statistic may no longer be true. If it is, it means each class also costs the college about $900 per class for administration, utilities, maintenance, etc.

So after paying for me and those basic overhead expenses, the college still earns over $3,800 for every class I teach. Most math classes are similar: big class size, taught by part-time instructors, and no need for fancy equipment. (There are a few upper division math classes that typically have fewer than 12 students, but are taught anyway so that Math majors can finish their degree.)

This is a big advantage for the math department. Most departments have far more small classes with fewer than 12 students. In other departments many classes have a significant equipment cost (science, art, and especially medicine).

Lane County is currently low on nurses, so LCC recently expanded its nursing program. This is good for the community, and is something all that Math class income helps pay for. The math instructors do not mind. I wonder if our students realize how much of their money is going to this kind of good help?

*This cost is for Oregon residents, which most students are. Out-of-state students pay $213 per credit.

**There are also some small fees ($5 per credit plus an $83.25 flat fee) that students pay.

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