University of Pennsylvania Thinks its Money is Well Spent.(Originated from Centre Daily Times, State College, Pa.)

Jun. 14--Penn State is in the business of education, and the way in which administrators spend the university's money shows it. But those numbers also show that Penn State is in the business of managed health care. And designing better torpedoes for the Navy. And pioneering new kinds of plastics. And operating dormitories and dining halls. And winning football games.

In fact, only about 22 cents of every dollar the university takes in this year will go into instruction-related expenses, such as paying professors' salaries. The other 78 cents will go into the hospital in Hershey, the dorms and dining halls, and especially into those homing torpedoes and plastic research projects.

But administrators stress the university is not taking tuition income and investing it in the campus catering service, golf courses, x- ray machines, torpedo testing.

If you take out the hospital, the dormitories, the intercollegiate sports teams, the dining halls, the bookstore, and outside-funded research projects such as the torpedoes, all of …