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Personal Finances / Living Below Your Means
|Subject: WSJ: $10K College Degree||Date: 10/8/2012 2:32 PM|
|Author: pauleckler||Number: 867899 of 887334|
Wall Street Journal has article today that Texas is trying to achieve a college degree program for $10K (total for all four years).
With more and more trying for college degrees given the decline in manufacturing and other good paying jobs and with student loans eating many students alive, there has to be a limit. This sounds like an excellent program that should be expanded in other states.
If a $100K university professor teaches 6-3 semester hr courses per year with an average attendance of 100 students each, the cost per credit hour is $55. To graduate in 4 yrs, a student must average 30 hr per yr. Cost should be about $1700/yr. Yet, some universities charge $40K or more in tuition.
Apparently universities divert funds collected on the backs of undergraduates to numerous other programs. But the student loan problem suggests this approach to higher education is reaching its limits. Other means to fund these other programs need to be developed.
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