Word: tuition
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Dates: during 1990-1999
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...when I was approached about being a house representative, something did not feel right. After four years working a term-time job to help fund my time at Harvard, I was a little resentful of the claim that each of us should feel lucky because we receive an enormous tuition subsidy from the College. At the same time, with the limited money I have available to give to institutions I respect, it seems almost ridiculous to give back to an institution that makes more off its endowment each year than many of us will make in a lifetime when...
When I graduated from the University of Pennsylvania in 1976, the base tuition was $3,790. I paid the bill with a combination of cash from my parents, wages from my summer job as a park supervisor and from a school job cleaning pig sperm from laboratory beakers, and a bank loan guaranteed by New York State. I still managed to have a pretty good time. In addition to learning to recite Pushkin in Russian, I got to experience such wonders of campus life as seeing a friend jump up on a barroom table and pull her bra out through...
This year Penn, a private institution, is charging students tuition and fees totaling $21,130. Add to that the cost of room and board, books and supplies, health insurance and personal expenses, such as travel between school and home, and the actual total--as Penn recently informed students accepted for early admission--comes to $31,582. This is real money. In 1975 my summer job alone covered a significant chunk of my senior-year costs. The pig sperm was gravy. If my three daughters decide to go to Penn--or Harvard, Princeton, Yale, Swarthmore, Brown, Stanford, M.I.T., Columbia, Dartmouth, Cornell...
...tuition get so high? Too often parents learn about tuition through scare stories about how we must begin saving impossible quantities of money before our children are even born, but never do we get a detailed explanation of what drove tuition up in the first place. Inflation can't explain it; over the past 20 years, tuition increased twice as fast as the overall cost of living. Tuition even outpaced a special price index deployed by colleges to help defend themselves against mounting criticism. Nor does anyone ever explain why schools with very different endowments--like Harvard, with more than...
...behalf of baby boomers everywhere, many of whom are just now filling out financial-aid forms for children accepted under early admission, I set out to track the tuition dollar by focusing on a single institution. I chose Penn, much to the chagrin of its director of communications, because it had the misfortune of having accepted me, because I wouldn't mind sending my own daughters there and because the forces that drove up Penn's costs are fundamentally the same as those at every other major university. My journey--taken at a time of great tumult in higher education...