Thursday, February 23, 2012

The Cost of a College Education

Who benefits most from people having a college education?  Certainly the person who gets the degree benefits.  But don't the corporations that hire these graduates benefit more than the graduates themselves?  Yes, I know that corporations contribute to the universities in the towns within which they do business, but perhaps we could consider a "reverse-dowery" approach to funding the cost of education.  Corporations would pay a fee, dependent on the "reputation" of the university that a candidate attended.  The fee would go toward payment of the tuition of the applicant.

This would have a couple obvious advantages.  Universities that produced graduates that excelled in their field would fetch higher "fees".  In other words, the MARKET would determine the best universities.  Also, the cost of education would be driven by the market that the education supports.  If corporations aren't willing to spend what a university education costs, then either universities have to figure out how to reduce their cost or corporations have to figure out how to get along without degrees as currently defined.  Eventually equilibrium will be established and the unreasonable cost of higher education will be abated.

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