Maybe, but using one of the most successful and wealthy institutions in the world as an example of ineffective bloat isn't useful for the overall argument.
"This workout routine is a waste of time and effort. See, look at Usain Bolt doing it."
"This workout routine is a waste of time and effort. See, look at Usain Bolt doing it."
The cost of a university education has far outpaced inflation. Harvard cost $2,600 in 1970.
https://www.cnbc.com/2015/06/16/why-college-costs-are-so-hig...
Second, since you brought it up, can you explain how they determine the cost of tuition? If it’s unimportant maybe they can simply eliminate it for everyone. Are other universities the same?
Sticker price is an important value signal, which draws elites who, as alumnae, support the institution, so what elite universities do is have high sticker prices and then internal need-based financial aid packages that cover much of the costs for non-wealthy students. This also, incidentally, maximizes tuition revenue, as those who can pay from their own pocket or outside scholarships do pay. But maximizes revenue is incidental, because tuition is not the main source of revenue.
http://nordic.businessinsider.com/how-ivy-league-financial-a...
It may be hopelessly optimistic, but I think that eventually, tuition will and should be eliminated for everyone.. As it stands now, where students from wealthier families pay more, it is a good consolation prize.