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The Answer To the High Cost of College: 42% Cut In Tuition
McGruber writes: Utica College, a small, private university in upstate NY, announced it is cutting its annual tuition by 42 percent. According to College President Todd Hutton, the change will reduce the sticker shock that many parents and students have when seeing the tuition price. Hutton says there are fewer than a dozen students who pay the full price. Currently, 61 percent of the tuition revenue coming from freshman is grants and subsidies directly from the college's pockets. Under the new tuition rate this number, called the "discount rate," would go down to 29 percent. Essentially, Utica College would spend less of its own money to pay the tuition of students who can't afford the full price. It expects to make up the lost revenue through increased enrollment, which would come as a result of the college appearing to be more affordable. Even though some of it sounds like a shell game, students will all make out better in the end, Hutton said. The least a student will save is $1,000. The most is more than $5,000, Hutton said.
It's not free. Someone's paying for it: the German taxpayer.
> How do the rich actually produce anything? They simply tell others what to do. Not how to do it, they just crack whips. Can't we produce things without their oversight? Do we really need them to pay us for us to do anything?
Let's suppose that's true. Rich people get rich by sitting there doing nothing, while companies magically spring up around them. "Can't we produce things without their oversight?", you ask. If you can, do it. If you can make a software company appear, why not do it rather than sit there complaining while working for the rich guy's company?
You don't need that damn idiot who built the company, you can build your own, right? So DO it, unless you'd RATHER stay up until well after midnight posting on Slashdot, then slog into your office half awake and watch YouTube videos while he makes sure you get paid on time. If you're working for the guy who built the company rather than building your own, that's your choice. Apparently you're getting something out of it, the rich guy is doing something for you that you can;t do for yourself.
Personally, I've done both. I've built and sold a couple of companies. I've been a lazy government worker, and right now I'm working for the rich guy who built this company. Right now, I choose not to be the rich guy running the company, but to be an employee because a) I don't want to work 80 hours per week, b) I want financial security - I don't want to risk what I have, but rather have a stable pay check and c) I want to spend my time doing the work I enjoy, not trying to take care of anything and everything a company has to do each day.
Maybe in a few years I'll decide I want to be the rich guy working 80 hours growing a company again. Maybe you'll want to work for me during the time. Maybe I'll keep doing this 8-5 thing, which is also pretty cool. You have the same choices. If you don't like the choices you've made so far, quit complaining and make different choices. I (and many others) wrote down the instructions for you on how to start a company. If you want a company without "that rich guy" and think you can do it without him, go do it. I did.