2 ms·
Gee, I thought that the resolution of the issue was: (1) Before 30 years ago or so, a student paid only about 1/3rd of what a college education really cost. T
by graycat 12y ago
Gee, I thought that the resolution of the issue was:
(1) Before 30 years ago or so, a student paid only about
1/3rd of what a college education really cost. The rest
was from 'overhead' taken from research grants, gifts, endowment income (from
gifts), government funding (say, state universities).
(2) Good students with little or no money got various
forms of financial assistance -- scholarships, work-study, etc.
(3) Wealthy students still paid only the 1/3rd.
So, someone got a bright idea: Why should wealthy students
pay only 1/3rd instead of 100%? So, why not let the
'list price' to the students be the full cost? Then
wealthy students will pay the full cost and others will
get 'scholarships' based on need and academic qualifications.
So, the 'list price' went from 1/3rd of the real cost to 100% of the real cost, that is, up by a factor of 3, that is, 300%. The rest of the increases were due to
better prof salaries, higher AdFunk salaries and more AdFunks, better facilities, etc.
But if have a really good media 'story', why give an explanation that would end the suspense, interest, drama,
sense of scandal, etc. and, thus, end the story? And lose the eyeballs and ad revenue? Gotta be kidding!