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Richard Bradley Blog
Thursday, March 24, 2024
Harvard Hits the Big 4-0
And then some.
The College has announced that tuition will rise 4.5% next year, going up to $41, 675, once again outpacing the rate of inflation. Simultaneously, Harvard says that it will increase its college scholarships to $84.6 million. As much as that sounds, it's still less than a third of total revenue from tuition. My rough estimate: assuming that Harvard has 6, 400 undergraduates, they pay $266, 604, 800 in tuition every year.
I know that many students who want to go to the nation's finest colleges think that such exorbitant amounts of money are well-spent. The reward is economic success in later life.
I can't help but wonder, though, if the very purpose of college isn't being warped by such prices. The higher the price of tuition, the less likely students can afford to do anything but go into high-paying fields like law and finance after they graduate....
The College has announced that tuition will rise 4.5% next year, going up to $41, 675, once again outpacing the rate of inflation. Simultaneously, Harvard says that it will increase its college scholarships to $84.6 million. As much as that sounds, it's still less than a third of total revenue from tuition. My rough estimate: assuming that Harvard has 6, 400 undergraduates, they pay $266, 604, 800 in tuition every year.
I know that many students who want to go to the nation's finest colleges think that such exorbitant amounts of money are well-spent. The reward is economic success in later life.
I can't help but wonder, though, if the very purpose of college isn't being warped by such prices. The higher the price of tuition, the less likely students can afford to do anything but go into high-paying fields like law and finance after they graduate....
