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Colleges and Universities tuition

 
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tfan



Joined: 31 May 2010
Posts: 8112



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PostPosted: 05/22/20 1:04 am    ::: Colleges and Universities tuition Reply Reply with quote

Anderson Cooper had an NYU college professor named Scott Galloway on talking about what effect the coronavirus would have on higher education. He felt that it would lead to more online courses permanently, as well as a near term drop in enrollment. He felt the Ivy league (0.5% of students) would be unchanged - still able to charge a huge tuition. But that by going more online, the big state schools (2/3rds of students) would expand their enrollment and due to a drop in normal enrollment this fall (I guess due to the uncertainty and risk), take a lot of students from their waiting list who would normally have to attend elsewhere. This will in turn hurt what he called the tier 3 schools. He predicted a lowering of tuition outside the Ivy leagues. The tier 3 (I think that is in 3rd level of desirability) would lower due to competition for students and the state schools would lower since they had more students for the same campus facilities.

He made comments that I am surprised aren't said all the time. For instance, the only industry that hasn't lowered costs over the last 40 years is higher education. And at the same time their product is essentially unchanged. In fact, the cost of college has gone up more than any other industry, including healthcare. He said the price versus cost of higher education is such a high markup it is only matched by new drugs that are effective in treating cancer or some other deadly disease.

Anderson Cooper said it was the most interesting 5 minutes he has had on the show in a long time.


TechDawgMc



Joined: 12 Aug 2010
Posts: 286
Location: Temple, TX


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PostPosted: 05/22/20 10:29 am    ::: Reply Reply with quote

Well, it's not really true that the product is unchanged. The academic part might be close, but I'm not sure I'd completely buy that.

But there have been huge changes in the rest of the university product. Schools are expected to provide significantly nicer housing, way more opportunities in the way of personal development (gyms, "parks", really nice student union type setups), counseling and development services, more developed student activities, etc. All of those things cost and some cost a lot (both in terms of building and in terms of staffing--which is the higher long term cost).

I'm not saying that totally offsets the ridiculous rise in prices, but the product is very different from what it was when I walked onto La. Tech's campus in 1979.

Will students choose to go to Wisconsin or UT or Arizona St. online over going to a private school? Some will. Most, though, aren't going to want to lose the college experience. And most states are not supporting their colleges that well -- so the cost of the tier 1/tier 1a schools is hardly cheap.


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