http://cornell.elliottback.com/tuition-at-cornell-university/ An unofficial blog about Cornell University Thu, 19 Nov 2009 07:32:35 -0800 http://wordpress.org/?v=2.8.4 hourly 1 http://cornell.elliottback.com/tuition-at-cornell-university/#comment-239952 David I. Drout, MD Sun, 16 Sep 2007 18:22:14 +0000 http://cornell.elliottback.com/archives/2007/01/26/tuition-at-cornell-university/#comment-239952 In 1965 I received my acceptance letter from Cornell. It remains one of the best days of my life. The value added from graduating Cornell has enhanced my career. The education, life and networks available are tremendous. I believe the tuition is trivial compared to the reward. Cornell offers a better than world class education as it has for the last 40yrs. We are now at the top of the heap and need to look at costs per value added. In 1965 I received my acceptance letter from Cornell. It remains one of the best days of my life. The value added from graduating Cornell has enhanced my career. The education, life and networks available are tremendous. I believe the tuition is trivial compared to the reward. Cornell offers a better than world class education as it has for the last 40yrs. We are now at the top of the heap and need to look at costs per value added.

]]> http://cornell.elliottback.com/tuition-at-cornell-university/#comment-75877 stynxno.net :: because you only live once Sun, 28 Jan 2007 22:44:33 +0000 http://cornell.elliottback.com/archives/2007/01/26/tuition-at-cornell-university/#comment-75877 [...] The Cornell Blog makes an interesting post about college and how the price of college has increased during the last quarter century. Now, it’s no secret that the price of college has increased - especially at private universities - but this is the first time I’ve seen a good comparison (ie. a nice pretty chart) that shows a how the price of tuition has outpaced inflation over the last 25 years. Now, this is normal. College tuition has always been designed to increase at a rate that is a percentage or two above inflation. With the recent (and on going) arms race among the top universities in seeking the top talent from around the world, the increase in tuition is necessary to keep Nobel Prize winners at their home universities. It is true, at least at Cornell, that tuition only pays for half or 2/3 the total price of a students education (1/3 of the operating budget of Cornell comes from private donations and endowments). The chart points out that the 1000 dollars used for college in 1980 would cost close to 6000 now while inflation has only increased that 1000 to 2500. But there’s another fact that’s not on this chart. A generation ago, the average family spent roughly 55% of their salaries on living expenses (homes, cars, rent, food). That has increased to 75%. So not only has college increased, the amount of money available for college has decreased. If I was wearing a bumblebee suit and was a Mexican tv star, those two facts would make me go ayyyyeeeeeeeeeeeeeeeee. [...] [...] The Cornell Blog makes an interesting post about college and how the price of college has increased during the last quarter century. Now, it’s no secret that the price of college has increased – especially at private universities – but this is the first time I’ve seen a good comparison (ie. a nice pretty chart) that shows a how the price of tuition has outpaced inflation over the last 25 years. Now, this is normal. College tuition has always been designed to increase at a rate that is a percentage or two above inflation. With the recent (and on going) arms race among the top universities in seeking the top talent from around the world, the increase in tuition is necessary to keep Nobel Prize winners at their home universities. It is true, at least at Cornell, that tuition only pays for half or 2/3 the total price of a students education (1/3 of the operating budget of Cornell comes from private donations and endowments). The chart points out that the 1000 dollars used for college in 1980 would cost close to 6000 now while inflation has only increased that 1000 to 2500. But there’s another fact that’s not on this chart. A generation ago, the average family spent roughly 55% of their salaries on living expenses (homes, cars, rent, food). That has increased to 75%. So not only has college increased, the amount of money available for college has decreased. If I was wearing a bumblebee suit and was a Mexican tv star, those two facts would make me go ayyyyeeeeeeeeeeeeeeeee. [...]

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