[manquer]

The fundamental problem is that education was priced traditionally priced using a cost + plus or a %cost basis what you can pay. Today education is getting priced using value pricing, if in theory you can get a job which pays X you can pay sum of multiple of X.

The second problem is that even if this was a reasonable system, people estimate the risk associated with getting the job paying X very poorly, colleges exploit this, even if only few people get a job paying X everyone pays the same costly multiple of X.

[paulddraper]

> Today education is getting priced using value pricing, if in theory you can get a job which pays X you can pay sum of multiple of X

Doubtful. If that were true, you would pay differently for a English degree than a Chemical Engineering degree. And I've never seen that.

[manquer]

That is surprising to me. In my country the cost of english degree is totally different than a chemical engineering degree.

Even without the commercial angle , the cost of teaching English is not remotely the same as chemical engineering, you need lot more labs , more depts with different expertise , more courses to cover etc. why is it costed the same ? Unless both are heavily subsidized and cost is a just token amount it doesn't make sense.

[paulddraper]

And that is from India?

[manquer]

Yes..