3 ms·
I support the concept of higher education, but the implementation is terrible. They charge tuition, then reduce it with “financial aid” — its a weird wealth tra
by briandear 9y ago
I support the concept of higher education, but the implementation is terrible. They charge tuition, then reduce it with “financial aid” — its a weird wealth transfer especially with undergrads. Charge $50k per year, give a university “award” then make those that don’t get an award subsidize those who do using taxpayer provided “loans” that take a decade to pay back. The only winner in that situation is the Vice Provost of Useless Initiatives That Do Nothing To Actually Improve Education.
For the cost of tuition, you could hire your own private adjunct professor.
Given a 15-1 student faculty ratio — how much of that tuition is really paying for the actual education. For the legacy schools, the land and buildings are long paid for; endowments cover maintenance. Really what’s the marginal cost of educating a single student?
In health care we complain about the $50 aspirin at a hospital, but we should be questioning the $50k tuition just as vigorously. Don’t even get me started on $200 textbooks.
I am opposed to so-called “free” college (I’ve seen its effects on the quality of French mid and middle tier universities,) however, I am beginning to rethink my position as we are effectively spending similar amounts already with essentially no accountability to the taxpayers who are indirectly funding much of this malarkey.
- throwawayjava 9y ago> its a weird wealth transfer especially with undergrads You could say the same thing about coupons, or any other mechanism for differential pricing. Also, most true scholarship money is not a differential pricing mechanism. Beyond a fixed discount rate offered to basically everyone (this is just the Kohl's "everything is always 60% off for everyone!" thing), most universities use (often endowed) scholarship and grants to maximize the quality of their undergraduate population, not for differential pricing. Giving Student 4.0 with $0 in the bank a full scholarship and giving Student 2.5 with $300,000 in the bank $0 in scholarship is not wealth redistribution. It's merit-based aid. And that describes how a vast majority of scholarships work.