Many college presidents get a load of freebies--big house, nice car, fancy meals, country-club membership. The perks help them perform official duties, like holding college functions at home and courting donors on the golf course. Since many of their living expenses are taken care of, they have cash to spare. The median compensation, including salary and benefits, for presidents at 182 public research universities was $397,349 in 2006-2007, according to "The Chronicle's" latest annual survey of executive compensation. For presidents of private research universities, the figure was $528,105 for 2005-2006. Some presidents splurge on vacation homes, some on travel. Others pay for their kids' private schools. Some give money back to the institutions they lead, saying that is their biggest expense. Not all presidents, of course, make such big salaries. The median compensation package of presidents at the largest community colleges is about $250,000. But with recent instances of some presidents' abusing expense accounts, officials at all types of institutions are extra careful these days about using the college credit card too freely. They want to avoid the fate of Benjamin Ladner, former president of American University, who was pushed out two years ago after revelations of his lavish spending. Indeed, many presidents err on the side of caution. They scrupulously record every dime and even pull out their own wallets for college-related meals. In this article, five college presidents reveal how they spend their money, and how they keep their business spending kosher.