What do people think they are paying for, or is worth paying for, at colleges?
- Academic content being taught and assessed.
- Academic experience (i.e. in terms of class sizes, contact with instructors, etc.).
- Credentialing and pre-professional preparation (including the effect of prestige, status, ranking, etc., or specific credentials needed for teaching, nursing, engineering, etc., or the BA/BS degree that is commonly required by employers “just because we can”).
- Non-academic aspects of the experience (i.e. residential versus commuter college experience).