Why does college cost so much? Here's one college president's answer.
In St. Cloud Times column, St. John's University President Michael Hemesath starts by dismissing a common complaint -- "the arms race in amenities: fancier dorms, gourmet dining options, fabulous athletic facilities." Focusing on those costs "misunderstands the economics of higher education," he says.
Instead, Hemesath turns to "technology, student services and labor costs."
Here's his argument about that last cost, labor:
Tuition and fees at St. John's reached $35,486 this fall. When you add on room and board, the total comes to $44,124. As the university's website points out, scholarships and grants "can significantly reduce your family's out-of-pocket costs."
What do you make of Hemesath's explanation?
