There’s
no reason college cannot be cheaper; that is, if colleges were under
pressure to really try to reduce costs.
Take
a recent study done by Christopher Matgouranis, Jonathan Robe, and
Richard Vedder, a Professor of Economics at Ohio University, and the
director of the Center College Affordability and Productivity group.
Reporting
data at the main campus, at Austin of the University of Texas, the
study says tuition fees could be cut in about half by asking 80% of
the faculty with the lowest teaching loads to teach half as much as
the 20% with the biggest loads. The top 20% now cover 57% of the
teaching.
Many
professors simply do not teach but spend time on research, much of
questionable utility. Also, student-teacher ratio standards make
little sense, while college bureaucracies are in need of major
cost-saving overhauls and streamlining which can reduce tuition costs even more. (See
the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at
twitter)
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