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Personal Finances / Living Below Your Means
|Subject: Re: WSJ: $10K College Degree||Date: 10/9/2012 2:05 PM|
|Author: fancifree||Number: 868005 of 898021|
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.
I don't think many people will argue that there is some waste or unnecessary college costs. But it is ludicrous to say that the cost should be $1700 per year. That ignores the cost of the building/classroom. That ignores the cost of electricity, heating, air conditioning and maintenance. That ignore cleaning the classroom. That ignores offices for the professors. That ignores admissions, counselors, support staff, campus police, janitors and other employees to keep a campus running. That ignores grass cutting, landscaping and outside maintenance. There is more I have not listed. To suggest the cost of an education should be around $1700 is living in a fantasy world.
A great argument and the same one I apply to doctors and my disillusionment with where healthcare is heading. Medicare and Medicaid offers minimal reimbursements. A doctor with an office is paying rent or mortgage, electricity, heating, air conditioning, cleaning, receptionisit, nurse, building insurance, malpractice insurance, student loans, etc...
I'm sure there are excesses everywhere, but you have to allow institutions and professionals to make money.
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