As the economy has soured, at least one person on campus has done OK. Public university presidents' salaries climbed 7.6% last year.

An annual survey by the Chronicle of Higher Education says 15 presidents of public research universities took home at least $700,000 in 2007-2008. Nearly one-third now earn over $500,000.

The salary increases almost entirely reflect contracts signed before the economy turned sharply downward. But the figures are likely to attract more criticism this year, as many universities slash budgets and lay off staff members. Tuitions are rising despite the downturn.

Some college presidents have declined or returned bonuses because of the economic crisis, including Michael Hogan at the University of Connecticut, James Ramsey at the University of Louisville and Richard McCormick at Rutgers.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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