The Higher Education Price Index (HEPI) is a measure of the inflation rate applicable to United States higher education. HEPI measures the average relative level in the prices of a fixed market basket of goods and services typically purchased by colleges and universities through current-fund educational and general expenditures, excluding expenditures for research. Educational and general expenditures include the functions of instruction and departmental research, extension and public services, educational programs such as workshops and instructional institutes supported by sponsors outside the institution, student services, general administration and expenses, staff benefits, libraries, and operation and maintenance of the physical plant. Sponsored research, sales and services of education departments, and auxiliary enterprises are not priced by HEPI. The index is calculated on a fiscal year basis ending each June 30, by the Commonfund Institute, a branch of Commonfund, a non-profit organization devoted to the management of college and university endowments.[1][2]
^"
Higher Education's Operating Costs Rose by 3.4% in 2007, Down From Last Year's Rate" by Elizabeth Quill, Chronicle of Higher Education August 8, 2007
^"Commonfund Institute News". Archived from the original on August 21, 2007. Retrieved September 23, 2007.
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