The Korea Times
When the University of Chicago announced this month that students whose families earn less than $250,000 will no longer pay tuition starting next year, they were taking a big gamble. The prestigious university recently was hit with a credit downgrade, is saddled with debt tied to building campaigns, and has laid off staff. Given these challenges, this decision seems risky. And yet the University of Chicago’s strategic move recognizes something undeniable — a college education, especially at a premier school, is out of reach for middle-class American families. One year at the university costs nearly $100,000, including tuition, food, housing and other student fees. That’s an entire year’s salary, or more. Yes, the college tuition game has become a lot like buying a car — almost nobody pays the full sticker price. But there’s a lot of wiggle room for universities to determine what individual families can afford to pay, meaning the all-in cost can remain uncomfortably high even after the financial aid office weighs in. And such a steep price tag is enough to knock a school off th
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