UofC to be the first U.S. university to cost $100k a year!
Posted: Wed Oct 30, 2019 4:06 pmIn addition to its reputation as an international powerhouse in the field of economics and a home to multiple Nobel Laureates, the school has grounds that are designated as an official botanic garden.
The privilege of attending is costly, at $57,642 for the 2019-20 academic year. It’s already one of the most expensive colleges in the country. But in less than a decade, by 2025, students like Badalamente could expect to pay more than $100,000 per year, based on projections by The Hechinger Report using annual college cost growth rates from 2008 to 2018. That would likely make the University of Chicago the first college or university in the United States to break the six-figure mark.
Three other schools — Harvey Mudd College in California, Columbia University in New York and Southern Methodist University in Texas — are projected to cost almost as much.
The university is certainly spending the money it’s brought in. It dedicated a new $81 million library — with less than a third of its cost funded by the building’s namesake donors — in 2011, adding its gleaming, postmodern-domed reading room to the campus’ Gothic and Brutalist edifices.
It added a new 800-student residence hall and dining commons, to house students for the two years they are required to live on campus. It also manages a staff that receives more than $1 billion in salary, $230 million of which is for its roughly 1,350 instructional staff and faculty, according to federal data for 2017-18. Producing and employing Nobel laureates does not come cheap.
https://hechingerreport.org/university- ... 00-a-year/
The privilege of attending is costly, at $57,642 for the 2019-20 academic year. It’s already one of the most expensive colleges in the country. But in less than a decade, by 2025, students like Badalamente could expect to pay more than $100,000 per year, based on projections by The Hechinger Report using annual college cost growth rates from 2008 to 2018. That would likely make the University of Chicago the first college or university in the United States to break the six-figure mark.
Three other schools — Harvey Mudd College in California, Columbia University in New York and Southern Methodist University in Texas — are projected to cost almost as much.
The university is certainly spending the money it’s brought in. It dedicated a new $81 million library — with less than a third of its cost funded by the building’s namesake donors — in 2011, adding its gleaming, postmodern-domed reading room to the campus’ Gothic and Brutalist edifices.
It added a new 800-student residence hall and dining commons, to house students for the two years they are required to live on campus. It also manages a staff that receives more than $1 billion in salary, $230 million of which is for its roughly 1,350 instructional staff and faculty, according to federal data for 2017-18. Producing and employing Nobel laureates does not come cheap.
https://hechingerreport.org/university- ... 00-a-year/
