By Peter Augustine Lawler
The president of Harvard, Drew Gilpin Faust, was asked by The Wall Street Journal to defend the skyrocketing cost of attending her university. The total residential cost, now $60,000, has risen much more quickly than the rate of inflation.
She assures us that not only Harvard but the other relatively nonelite private, residential colleges remain “worth it.” She reminds us of the return in “lifetime earnings” and “intellectual development.” But anyone would immediately think there might be cheaper ways of getting both. And being saddled with mega-debt, it’s often said, can drastically limit the options of a graduate of ordinary means in either choosing an entrepreneurial opportunity or pursuing graduate or professional education. READ MORE HERE