I'd like to know
why American university courses cost so much. The UK punches above its weight in research and quality of education, yet the maximum fee universities can charge is around $14k per year. The majority charge substantially less than this. Whilst government subsidy explains some of the mismatch, it's still very significant. In addition, the cost of buying books, which seems to make up a gigantic portion of college costs in the US, is not even remotely as large.
I can think of the following theories:
- In the absence of a "socialist" state, US colleges provide poorer students with a free/subsidized education by charging richer students more.
- US faculty receive massively higher salaries.
- In a country where college education is commonly used as a mark of social status, they can charge a premium and people will still pay.
- There is limited public understanding of the drawbacks of debt, so people are more willing to incur it by paying extreme fees.
- It's a big bloody racket.
Do any of these hold any truth?
I can think of the following theories:
- In the absence of a "socialist" state, US colleges provide poorer students with a free/subsidized education by charging richer students more.
- US faculty receive massively higher salaries.
- In a country where college education is commonly used as a mark of social status, they can charge a premium and people will still pay.
- There is limited public understanding of the drawbacks of debt, so people are more willing to incur it by paying extreme fees.
- It's a big bloody racket.
Do any of these hold any truth?