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Jay Sawyer of Northbrook shares that through the period of pandemic, tuition fees have increased by 260%, which double the rate of inflation. He says that in order to sustain these prices, more students are now admitted from the top 1% of the income scale than the entire bottom 40% at the top 80 colleges. He also notes that as the US has become the epicenter of the pandemic, many students are looking to defer enrollment.
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Jay Sawyer of Northbrook Talks about the Changes COVID-19 Has Brought In the Education System of America
Jay Sawyer Shares How the COVID-19 Pandemic Has Led To an Increase in the Tuition Fees Around forty years ago, going to college in the United States was a reliable pathway for upward mobility, and today, it has become yet another 21st century symbol of privilege for the wealthy, thanks to the coronavirus that led to a shift to virtual classes. Jay Sawyer of Northbrook shares that through the period of pandemic, tuition fees have increased by 260%, which double the rate of inflation. Back in 2019, the average cost of attending a 4-year private college was over $200,000 while for a 4-year public college, it was $100,000.
The Universities Are Opening the Floodgates to Wealthy International Students, says Sawyer Jay Sawyer of Northbrook says that in order to sustain these prices, more students are now admitted from the top 1% of the income scale than the entire bottom 40% at the top 80 colleges. The Universities have also opened the floodgates to wealthy international students who are willing to pay full tuition for the American brand.
Factors That Are Making Many Students Defer Enrollment Jay Sawyer notes that as the US has become the epicenter of the pandemic, many students are looking to defer enrollment. International students doubt if they should register at all because of the uncertainty around visas and work prospects. Moreover, the “Trump Effect” had already started to cause declining International student enrollment over the past 3 years.
These Factors Have Led America’s Top Institutions to Make Some Solid Changes in How They’d Proceed Jay Sawyer of Northbrook notes that the aforementioned factors have led America’s top institutions to make some solid changes in how they would proceed further. For instance, Harvard recently announced drastic steps they would be taking for managing the fallout, such as hiring freezes, salary cuts, and cuts in discretionary spending. Sawyer believes that Universities are nervous that if they continue with online teaching, students will demand at least a partial remission of tuition. He also feels says that if Universities proceed strategically, online education could expand access exponentially and drop its cost by magnitudes, while resulting in higher revenues for them as well.
