Your Opinion: Area colleges need to study cost-benefit ratio

Dear Editor:

The following are comments on articles about Lincoln University and State Tech, in the Oct. 8 edition of the News Tribune.

The LU article stated, "Students wanting to learn, of course, are the main reason colleges and universities exist as places to teach." News flash The vast majority of students do not pay huge sums of money just to learn, they expect their education to provide a payback on its cost.

Both facilities are striving to achieve higher enrollment. I suggest that they examine the cost/benefit ratio of their programs. What are the employment prospects for their graduates? How long does it take the average student to recoup the cost of his/her education?

In 1970 I graduated, with a bachelor of civil engineering degree, from a small (approximately 2,000 students) private university. The full cost of my 4-year degree was less than $5,000 (This included books and miscellaneous fees, but did not include housing and meals. I did not live on campus.). I received no scholarships, grants, etc.; my blue collar family, my wife and I earned the money to pay my tuition. Median household income was about $9,900 in 1970. The cost of my 4-year degree was about 50 percent of the median household income. In 2016 the median household income was $55,800.

My post-grad starting salary was $9,600 per year, almost exactly equal to the inflation adjusted $57,000 average annual starting salary for today's bachelor of science and civil engineering grads. The salary earned during my first 27 weeks of employment equaled the full cost of my education.

How long does it take today's Lincoln University or State Tech graduate to earn the cost of their education? I suspect it is far longer than 27 weeks; if so, then perhaps both should investigate, and justify to consumers, why their costs have increased faster than the rate of inflation.

 

Issue-oriented letters to [email protected] are welcome. All letters should be limited to 400 words in length; longer letters may be edited to conform to the specified length. The author's name must appear with the letter, and the name, address and phone number provided for verification. Letters that cannot be verified by telephone will not be published.