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Public vs Private Institutions

In: English and Literature

Submitted By mfielden
Words 825
Pages 4
This article first touches on the huge raise of the cost of assets such as income, housing, a car, and tuition since 1974. The increase has been immense in just the past 41 years. Following this, the article analyzes the business aspects of higher education, stating that the success of the economy is greatly reliant on the success on students in their schooling. “Workers with more education are more productive, which makes companies more profitable and the overall economy grow faster.” (Adam Davidson, “Is College Tuition Really Too High?”) This is basically saying that without a higher education, the general success of an individual is hindered. Although, this hindered success is largely a result of such previously named cost increases. Tuition has risen faster and higher than inflation has over the years, “the higher the prices that schools charge, the more options they have in recruiting exactly the students they want.” (Adam Davidson, “Is College Tuition Really Too High?”) With seemingly less accessible education though, such as in elite private institutions which are much more costly with lower acceptance rates, higher graduation rates become a result. This is because the students that are granted entrance into these elite schools are more dedicated to their education than the provided statistics of those in public schools concerning the percentage that gradate in four years or graduate at all. “The enormous financial value (and cultural currency) of the product they are selling, an elite credential, is well understood. Nearly everybody admitted to these schools graduates within four years.” (Adam Davidson, “Is College Tuition Really Too High?”) With the higher pricing of tuition at elite institutions comes with higher spending on their students and their education which contributes notably to their success rates as well, which is not always recognized.…...

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