Let’s run the numbers. For a private University- Such as Harvard.
The Endowment is about $40 Billion and the Operating Budget is a little over $4 Billion.
So what does it cost to go to Harvard?
So, based on the student population and the expenses per student, the students only contribute about 10% of the annual budget of the University. So it could easily be FREE to go to this University and the University would not go broke. After all, they are making more then 6% on their huge endowment, which is more than $2 BILLION with a B every year in income on their endowment. On which they pay no taxes. Yep. Universities pay no taxes. So what about the students in “Professional Programs”? Well those folks “Live at Home” and their expenses are paid by their employers, right? No? Shame on them.
Other private institutions and I dare say, state institutions are in a similar situation. So why is college tuition going up? Why are these institutions hoarding their endowments rather than making college affordable? Why is Yale running an expensive golf course at government expense – that is, not paying taxes on it?
Pick the college that you are interested in and Google it for yourself.
University should be free for everyone in the US – Tuition and Reasonable on-campus expenses should be paid. The Rip-Off business of College Loans should Go Out of Business and all student debt should be forgiven. Colleges are in the business of selling mortgages on the futures of our young people and we as a society should stop it.
That’s my 2 cents.