Are you shocked by the cost of a university education today? I am, and I work at a university.Frankly, I don’t understand how parents and students today are able to pay the present room, board, and tuition costs of an education at either a public college ($25,000) or a private college ($55,000). The cost of higher education has increased at a faster rate than inflation for at least the last ten years.
And, according to college financial aid consultant Kalman Chany, there is no end in sight. Chany predicts that when today’s children to go college, the estimated cost of a state school will be $37,000 a year, and at a private school, the cost will be $98,200.
When you multiply these numbers by a factor of four, you wind up with public tuition topping out at $150,800, and private tuition at $392,800. (And, by the way, these figures do not include books, spending money, and transportation) Now, don’t get me wrong, I’m still convinced of the importance of a college education, both in regard to developing competence and a career, as well as addressing the related questions of “personal identity and character.”
Jerry Seinfeld is a comic giant. His TV show, Seinfeld, ruled the air waves for nine years, and achieved cult like status in the American pantheon of popular culture. Seinfeld lives in a posh Manhattan penthouse with a view of Central Park. He has three kids, a wife who is a best-selling cook book author, a fleet of cars, and more money in the bank than he could spend in ten lifetimes.
