Chay, that's the theory that I fear is actually most correct.

It is also the one that makes the most sense of the observations that I have made both as a parent and also as an insider in higher ed-- that the actual PRODUCT (the education itself) doesn't really differ substantially between, say, $55K/yr Private College and $8K/yr State Uni... at least not in terms of the benefit received by the average tuition-paying student.

It's like taking Wonder bread and plopping it onto a paper towel versus a Spode salad plate.

Now, I know that those who are paying for white glove service and Spode want to suggest that it's different bread... but I'm simply not convinced that this is so.

I think that what people are paying for is the IMPRESSION that the bread is better. The impression that OTHERS hold, I mean. I suspect that many of those paying for those "elite" colleges out of pocket or on credit are doing so for the very real phenomenon of social mobility as a result-- or at least for the promise of it, anyway.

We've (personally) decided that the premium isn't worth it since the "social network" probably is mostly illusory anyway if you're not already one of them. (By "them" I mean the wealthy, elite, etc-- those who aren't too worried about their kids getting in, or of paying for it if they do.)

Yes, at elite institutions, no question that the students are more 'striving' types, and many are brighter than the average bear at NoName State.

I just don't see that as being worth a premium of 80-100K.

What really angers me is that I also see NoName State deciding to "rebrand" itself as "Fine Dining" and spending $$ on things that are not central to the mission in an effort to "lure" students there...

which is at least potentially where cost increases are coming from-- "Look! Brand new! In-room Sushi Chefs!"

"New football stadium! Go Team!"


tired


Schrödinger's cat walks into a bar. And doesn't.