THE BRONX - Putting a New York City criminal in the slammer for a year costs the same as a four-year Ivy League education, according to a new report.

The city's Independent Budget Office says that in 2012, that amounted to more than $167,000 annually for one inmate. When the numbers are broken down, it shows that taxpayers shell out about $460 per inmate each day.

At the Bronx County Courthouse, some say the cost of the city's corrections system is unbelievable, but others thought the numbers seemed to be fair.

Former Corrections Commissioner Martin Horn suggests reducing costs by replacing Riker's Island, which takes in most of the money, with jails next to city courthouses.