Charles Vest
Charles Vest
Charles "Chuck" Marstiller Vestwas a U.S. educator and engineer. He served as President of the Massachusetts Institute of Technology from 1990 until December 2004, when he was succeeded by Susan Hockfield. He served as president of the National Academy of Engineering from 2007 to 2013...
NationalityAmerican
ProfessionEducator
Date of Birth9 September 1941
CountryUnited States of America
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We are trying to make up these other elements by gaining cost efficiencies through our reengineering process and through overt fund-raising activities to better support graduate education.
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The Science Coalition, which grew out of an initial concept at Harvard and at MIT, has now grown to an informal group of about 60 research universities.
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There is no question that we are in a period in which we are going to have to use those sources to fund about 35 million dollars a year that used to be paid for by the federal government.
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I believe that our office has clearly been the leader in building coalitions, in getting other universities across the contrary to interact more effectively with the government and particularly the Congress.
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The term 'cost shifting,' as I use it, refers to those items in a university's budget that used to be reimbursed by the federal government but are no longer paid for by them.
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Our goal has been to more effectively promote the value of publicly-supported research at our universities, both to the Congress and to the general public.
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Of course, tax revenues have ended up being substantially higher than they were at the time these dire projections were made, and we are very close now to having a balanced budget. All that has been very helpful.
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I would also certainly continue to keep loan repayment interest rates as low as possible. And I would spread the financial aid a little less thinly across all income brackets.
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The thing that we at MIT must understand is the amount of real damage that is being done to us in the fine structure of how research funds are expended.
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Literally from the moment I came in the door of MIT, it was very clear that a highly productive 40-year partnership between U.S. research universities and the federal government was badly eroding.
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For much of this decade, both Congressional and administration budget projections showed a decline in science and technology accounts of between 20 and 30 percent in real dollars. The real impact to date has been far less severe.
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Over-reliance on strictly economic justifications has already begun to hurt the quality and range of education at every level of American life.
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We have been restraining the growth of the cost of education-that is, tuition, room and board-to be within approximately one and a half percentage points of the consumer price index.
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On the other hand, it is not fair to say that changes in federal policy have caused our tuition to rise faster. Every economic argument imaginable would indicate that we should raise tuition at a faster rate than we do.