Comment Parent of University Frosh Twins: "Thank You" (Score 4, Interesting) 161
Competition and expense at elite colleges is really tough for my kids. Today, I don't think I would have gotten into the colleges I attended 30 years ago. And I hear most of the parents of my generation griping about competition from incoming foreign students.
No, I say this is good. The USA college tuitions have been going up 3 times the rate of inflation for three decades. While much of the increased annual fees go to "need based" tuition scholarships, the university endowments have funded an arms race on "country club" campuses complexes, the maintenance of which draws from the same tuition and fees. Students are paying for the lavishness. MOOC (massive online open courses) have been proposed as the solution, providing the education without the cost of the colleges' overhead.
As this would trend, the smaller and middle reputation colleges would fold and get privatized (which has not worked well at all). Colleges like, say Hendrix in Arkansas or St. Mike's in VT, are fine schools with good professors, and they'd be the victim if it weren't for an increase in students who can afford to pay the full tuition. If the country club and reputations of US colleges didn't attract foreign full-tuition paying students, the only solution would be more college debt, which is already unsustainable. So if my kid (with better grades, scores, and languages than I had) didn't get into the "A-List" college I attended, I'm satisfied she'll find more people as smart as she is at the less prestigious school, and that all the foreign tuition coming into this program will float all boats.
The only two things most people remember about college are 1) the interesting people they met (friends, faculty, etc) and 2) the debt they leave with. MOOC's only address the latter. More wealthy foreign students paying full tuition addresses both.