With educational institutes raising tuition fees year by year, more people begin to question the legitimacy in letting students shoulder the majority of the costs, a practice prevalent in most countries across the world.
Indeed, students themselves are the biggest beneficiary of higher education --- statistics have proven that people with a college diploma earn almost twice as much as a high school graduate, which well justifies the high price to pay. To many, this is no different from paying for being served in a fancy restaurant, or more closely, receiving training at a private school. Every service has a price tag, so does higher education. Faculty payrolls, teaching buildings and equipment, books in the libraries all cost money. There is no point in shifting the cost bearer to someone else other than the
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Initially, unlike other costs, college expenses are huge and span at least four years to come, making it difficult for destitute homes or families with several children to handle by themselves. Although student loan and scholarship might come to rescue at some point, it will still be limited. Students who cannot afford a payment could face a forced dropout or be subject to the choice of substandard schools where tuition is less. When that happens, it is regrettable to both of the student and the academia.
On the other hand, a super talent pool definitely works to a nation’s favor as well. The new century has seen many thriving economies shifting their labor-intensive manufacturing model to the one based on high-tech companies, as this is a much more effective way to generate massive profits in a short span of time. It goes without saying that people with professional skills are the right candidates who can prop up a technology-based industry, and that requires a proliferation of talent pool to meet the demand. Where can the nation find these people?