Hint: Not a princess nor a star.
The world’s costliest degree costs about $332,000 and the program will soon be available at America’s most expensive college: Columbia University, New York. Think that’s too much money for higher education? You’re not alone and you’re in for a shock. This tuition fee is for an MBA (Master of Business Administration) program, not Doctor of Medicine.
Take a moment to let that sink in.
It bears repeating: $332,000 for a postgraduate degree in business at Columbia University. That amount does not even include room and board, books, food, daily expenses, etc. Maybe this can explain the exorbitant salaries of corporate executives.
Meanwhile, aspiring doctors fork out about $230,536 in tuition fees for a four-year program in the same university. We’ve already established that Columbia University is the most expensive school in the US and it’s general knowledge that med school is never cheap. Apparently, this degree is not even the second most expensive.
Aspiring musicians studying at Bard College have to shell out $253,520 to earn a five-year Bachelor of Music degree. Evidently, it’s more costly to master music than medicine. Like, what do they teach in these music classes to command such record-breaking fees?
Does it really cost more to learn how to create music than cure diseases? Is it more difficult to make business-related decisions than save people’s lives? Who or what dictates how much a degree should cost?
Yeah, we know that education is a financial investment that will pay off a hundredfold. That’s why parents send their kids to school, right? But we also know for a fact that not all degree holders are able to pay off their student loans years later.
If these steep tuition and fees are investment for a student’s future, it is worth looking closely at the results of these programs. At present, the US has about $1.3 trillion in student loan debt. It makes us question whether getting an MBA is really the way to go.
What are your thoughts?