Really? I can say for sure that the $65,000 a year I have paid for my son to go to school there the last 4 years was real money.
Yes, but much like healthcare, higher education strives to hide its true costs from the consumer/payee. Many students receive scholarships, grants, and favorable loans to help pay for university. Thus, any two students are unlikely to pay the same out-of-pocket for their educations
Also, cost to you doesn't necessarily correlate to value. You apparently value your son's education at $250,000. Many would not place that value on the education and would be unwilling to pay that much--they may still get the education by paying a reduced rate due to grants, scholarships, etc.
Five years of education plus room and board obviously has a value. A degree at the end increases that value. I'm just not sure we can say that the value equals what the school would charge an out-of-state student paying full freight.
Is your son a part of a team that makes the university $30 million+ a year just for TV?
Meh, that's a separate question. I think it's clear that tuition, room, and board are worth something--it's valuing those things that becomes tricky. I also think that if people are willing to pay hundreds of thousands of dollars to cheat to get into USC, Stanford, and the Ivies, that admission outside the usual academic window has some value.
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