They say if you think education is expensive, you should consider the price of ignorance. While efforts are going on to make education free for underprivileged sections of the society at home, the scene is not the same everywhere. Some of the top universities of the world are the most expensive ones too, and they have reasons to charge high fees.
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As these are mostly private institutions, tuition fees alone can run into lakhs of rupees for an Indian student. However, high-priced does not necessarily translate to over-priced or excessive. As per a recent survey by HSBC, nearly three-fourths of Indian parents are willing to take education loan to fund their children’s university studies.
International education consultant Mrinalini Batra says that these days in India, cost of education is becoming secondary for parents, which is surprising, given the hefty amount. “Parents, especially those from Delhi, make the choice of study destination for their wards based on where the child will be happier, with regards to life in the country and extra-curricular activities. Apart from few applicants who consider money important, most people look at quality of education, networking opportunities and the reputation of the institute in the market, among other things, when selecting a college,” she says.
The disregard for tuition fee is more prominent in students applying for PG courses, says Batra. “While selecting colleges for, say, an MBA course, students do not consider money as a factor as they expect a return on their investment which the ‘tag’ a degree from the institute would give them. Money consideration is more with under graduate students as they look for cheaper options,” she says.
Having gone through the fee structures of some of the top higher educational institutions of the world, we bring to you some of the most expensive universities/ colleges in the world.
University of Chicago: $57,000 – $64,000
Chicago University began its first batch in 1892 and has many feathers in its cap, such as turning out 87 Nobel Prize winners and being host to the first ever self-sufficient nuclear reaction, among others. The varsity is a private educational institution which began with a generous contribution from John Rockefeller.
New York University: $59,000 – $65,000
One of the most popular study destinations in the world, a degree at this Greenwich, New York-based institute comes with a hefty price tag. About 36 former students of the varsity are among Nobel Prize winners and 16 have won Pulitzer prizes while 10 have won the National Medal of Science. The NYU, as it is popularly known, has a satellite campus in Abu Dhabi and has a student strength of more than 57,000 (according to 2014 figures), of which 25 per cent are international students.
Harvey Mudd College: $58,000 – $67,000
Established in 1955 in California, the school is affiliated with the Claremont Colleges. It received its initial funding from the Harvey Seeley Mudd, a mining engineer who founded the Cyprus Mines Corporation. Mudd, however, passed away before the institution was opened that same year. The college’s placement cell is a favourite with recruiters.
Imperial College, London: $40,000
The college was founded by Prince Albert, the prince consort and husband of Queen Victoria, in 1887. It was connected to the University of London initially but bid adieu to the institution after a century. Its primary focus is on medicine but has ventured into business studies with the Imperial College Business School being inaugurated in 2004. Besides 15 Nobel laureates, as many as 70 Fellows of the Royal Society, 82 Fellows of the Royal Academy of Engineering and 78 Fellows of the Academy of Medical Sciences are among its former students and staff members.
Sarah Lawrence College: $57,000 – $65,000
According to the Princeton Review (2003), the college was awarded the higher educational institutions with the best faculty in the US. The student strength, as well as the faculty members of the college are more active on socio-political movements throughout history, including sending aids during World War II, siding with the Communist Part in the Mc-Carthy Years, protesting against the Vietnam War, as well as demanding sexual equality and gender rights.
Note: The amount varies with respect to the courses offered.
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