Thursday, October 21, 2010
The Cost of College Tuition
Everyone is very focused on the cost of college tuition these days. Some say we are in the midst of the next bubble to burst. Are there any good ideas for reducing costs? After all, to get prices down, we have to get costs down. One intriguing idea offered by several folks is to operate colleges on a 12 month calendar, as opposed to the current 8-9 month calendar, whereby the campuses are underutilized in the summer months. The key benefit, of course, is that you could leverage fixed costs more effectively by better utilizing expensive assets.
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How about stripping away everything other than education from the college experience?
"Want a swanky gym? Take the bus to the neighborhood Gold's Gym."
Also -- why should college professors get lifelong tenure while no one else does? In my MBA experience, quality of teaching and education was negatively correlated with length of tenure.
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