In The Case Against Elite Universities, a negative in attending a big-name school is the cost.
In my example, I cited Harvard as costing approximately $50,000 per annum.
The Boston Globe states that an increasing number of schools are charging higher fees.
Next year the number of schools in the region that charge upwards of $50,000 annually for tuition, room and board, and mandatory fees is expected to more than double, according to a Globe survey of 20 colleges and universities. Just two years ago, less than a handful of schools cost that much (though many hovered just below the threshold.)
Across America, the numbers are not much better.
Nationally, the full cost of attending private colleges rose 4.3 percent on average in the past year, to $35,636 for 2009-10.
cost, adjusted for inflation, is more than 2.5 times as high as it was three decades ago.
Without financial assistance, such as scholarships and grants, the cost of education may not be a prudent investment. Especially in the current political climate that threatens to cap compensation levels in certain industries.
Is education “the most overpriced product you could possibly buy?”
Probably not yet. But I think it is getting there.
Remember that education is like any other investment.
Properly research your education options. Cost-benefit analysis should play a large part.
You do not need to spend the most money to get the best education.
Invest wisely in your future. You do not need to go bankrupt to obtain a decent education.
