Peter Ewell has written an interesting article in Change, November-December, 2008 . Ewell writes . . .
One of the most pervasive and unassailable myths about higher education has to do with the relationship between outcomes and money. Doesn’t it stand to reason that if you want to improve performance, you need to spend more? Well, there is a good deal of evidence that variations in spending have little to no effect on institutional or state higher education performance.
The results of the research that Ewell and his colleagues conducted . . .
” . . . surprised us. Across both states and institutions, performance relative to funding varied substantially. At equivalent levels of funding, institutions or sectors frequently performed very differently. And given equivalent levels of performance, institutions or sectors frequently spent quite different amounts to get them.
Great summary of the article from Mike Offerman