I’ve recently been thinking about how credit costs are come up with. It seems that X college just picks a number that covers their costs, marks it up and relies on their “brand” to justify the cost. I’ve seen accredited universities sell their credits for 50 bucks (not including the cost of content and teachers…which can’t be all together that expensive when spread over 20 students in a course, offered 3 times a semester 6 or 8 times before the content needs upgrading/revision.
As the recent post on Open Education relates,
But Robb saves his strongest criticisms for higher education. Beginning with the costs for collegiate education, expenses that have increased 4.39 times faster than inflation over the last three decades, Robb indicates that higher education is no longer affordable for most households, especially as median family incomes stagnate.
via John Robb on “The Education Bubble” and the Opportunities Provided — Open Education.
It’s possible that there is no justification for the prices colleges are charging these days. Moreso, the article and Robb go on to say, it’s possible that those foregoing higher ed. are just as well off as their counterparts who attend a 4 year cruise to nowhere (college) in the long run. What!?
If this bubble bursts things are not going to go well.
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