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McDonald's employees and the employees of participating independent franchises offer employee benefits to improve English language skills, earn a high school diploma, work toward a college degree, and get counseling about education and career plans. The corporation has spent more than $100 million on the program over the past four years.
The reasoning behind this can be seen through a thought experiment offered by Baumol in his book The Cost Disease: [18] Let us assume for simplicity that the share of the economy's total output that comes from the progressive sector [industries with high productivity growth], as measured in physical units rather than money, does not change.
Over the past decade, the cost of in-state tuition for a 4-year education increased by one-third, with tuition inflation rates decreasing in the recent decade. [9] A 2014 study by economists Jaison Abel and Richard Deitz found that the opportunity cost of attending college amounts to $120,000 due to forgone wages, with the total cost of college ...
Another way to say this is that whereas medical costs inflated at twice the rate of cost-of-living, college tuition and fees inflated at four times the rate of cost-of-living inflation. Thus, even after controlling for the effects of general inflation, 2008 college tuition and fees posed three times the burden as in 1978.
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Low-income families now must pay more to attend college, making it harder for them to attain higher education. In 1980, low-income families used 13% of their income to pay for one year of college. In 2000, this proportion grew to 25 percent of their income, while high-income families used less than 5% of their income. [ 16 ]
Nursing degree (associate or bachelor's) - Time to complete: 2-4 years - Typical prerequisites: Diploma or GED - Typical job: Registered Nurse ($81,220 median annual earnings)
Of the more than 100 faculty leaders at public colleges who responded to an online survey conducted by The Chronicle/HuffPost, a majority said they believe college sports benefit all university students. But they were divided about whether students should pay fees to support their college teams.