Fortune Favors the Bold - The Official Mastercard Podcast What Do We Get When We Pay for School?
Jan 23, 2020
Katia Maneff, a concerned mom weighing the costs of college education for her daughter in both the U.S. and U.K., joins the conversation. They dive into the emotional and financial maze of higher education. Is it still worth the hefty price tag? Insights from journalist Paul Tough and economics professor Gillian Wyness reveal disparities in education costs and access between the U.S. and abroad. The discussion also tackles student debt, the changing landscape of financial aid, and the personal impact of these choices on families.
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Free Education Shapes Values
- Katya grew up in Switzerland where education was practically free, contrasting with the high tuition culture in the U.S.
- This background shapes her skepticism about the value of high college fees in America and influences how she views education costs.
Tuition and Aid Dynamics
- Tuition fees in the U.S. cover rising college costs amid declining government funding.
- Financial aid often serves as a recruitment tool, favoring wealthier students over those with the greatest need.
UK Tuition Hike Didn't Reduce Access
- UK tuition fees rose from zero to about £9,000, yet enrollment and equity remained stable.
- Fees support wider access by funding more places, unlike capped availability under free education.
