Sticker Price: Reflections on Higher Education

By Walter Wendler

If five people go into the same Ford dealership and buy an F150, each will pay a different price. The cost of the new vehicle will be determined by the buyer’s ability to negotiate, the salesperson, color, options, trade-in, interest rate, choice of cash or credit, weather and a host of other factors. We expect those deliberations and the variety of outcomes as part of doing business in a market-driven exchange of value for goods or services.

Walter V. Wendler

The complexities increase markedly when value is almost wholly dependent on who is buying. This is the case with an education. Sticker price is nearly meaningless as an indicator of value. If one student has access to scholarships or Pell Grants and another does not, the costs vary dramatically. The dorm room selected, food plan and numerous other options influence total cost. Even the major chosen will drive the cost up or down. In some majors, differential tuition—a premium paid because of the personnel, equipment, facilities or other aspects of study—will drive prices up. This is understandable in fields such as engineering, medicine, law or business. However, even fields such as anthropology or history (usually with lower starting salaries) may have premiums associated with the cost of the degree due to requirements such as international travel or special study experiences not usually factored into the cost of the degree.

The most important element in the cost/value equation of a university education is the student. This does not make the student a customer in the typical sense, not for a split second. Similarly, attending a church does not make someone a saint.

An education provides opportunity. While starting salaries vary by career choice, how an individual uses the history degree may have a significant impact on lifetime earnings associated with it. More importantly, “satisfaction” with the result of the lifelong experience rests not on the degree alone, but how the recipient utilizes the insights and knowledge gleaned when earning the degree.

If you don’t like the F150, you can trade it in for a GMC Sierra. You may lose a few bucks in the exchange, but in the end you’re satisfied, and you chalk up the lost resources as experience. This is not the case with a university degree. The investment of time and the magnitude of the cost amplify dissatisfaction when expectations and aspirations go unmet.

The values of various educational outcomes are the result of how a particular learning experience is used. For example, a graduate with a BA in history, typically a low paying field, may decide to use that educational experience and insight to become an attorney, a physician or an engineer. Or maybe, just maybe, they want to teach history in their home high school. I have seen multiple examples of each of these and countless other “turns in the road,” all exclusively dependent on the individual rather than the degree earned. This is not the case with the pickup truck. If two people—no matter their intellectual capacity—aspire or dream to buy the same truck, it will be of equal value the day after. The buyer has little impact on the value after “cutting” the deal.

This is not the case with an education. Ultimately, in terms of satisfaction, fulfillment and earning capacity, the value of the degree will be different from case to case. The recognition that students provide added value is increasingly difficult to explain in higher education. As a society, we have commodified educational outcomes. A money-back guarantee, a five-year, 75,000-mile warranty and the notion that a product has value independent of its user—the degree as a consumer product—all create significant challenges.

The proof of this thinking is that various states are at work to make college education “free.” The consumer perspective in this policy is clear. Dismissed in this thinking is the investment of the student and the value that investment carries. All of that said, universities should do everything in their power to lower costs and increase value.

The sticker price of an education can never be looked at independently of who’s doing the buying. It is incumbent on universities to be transparent with students and families about the nature of a university experience. To assume that two students who sit side-by-side in every class for their entire undergraduate experience would have the same earning capacity and fulfillment over their professional lifetime is a fool’s errand.  Yet, without understanding the variability in human commitment, energy, insight, creativity and determination, that is exactly what we do when we disregard student contribution to the value of the degree.

Whatever the sticker price, or the potential associated with a particular degree, the ultimate value lies with what the holder does with an educational experience after it has been driven off the lot.

Walter V. Wendler is President of West Texas A&M University. His reflections are available at www.walterwendler.com.

Pastor Rick Warren: God knows you; Is that disturbing or comforting

God Knows You; Is That Disturbing or Comforting?
By Rick Warren — Mar 26, 2018

Pastor Rick Warren: God knows everything, and that’s good news

God Knows Everything, and That’s Good News
By Rick Warren — Mar 23, 2018

Election season in the land of the shrinkin’

Now that the bells and whistles of primary season have subsided, it’s time Illinoisans return to careful consideration of the state’s most pressing issue: there are fewer and fewer of us left.

 

Here’s a link to the story at Illinois News Network.

Pastor Rick Warren: God says you are capable

God Says You Are Capable
By Rick Warren — Mar 21, 2018

Franklin County Farm Bureau News

Franklin County Farm Bureau News –

Gay Bowlin, Manager

Spring is here – now let the good weather begin and farming will be on the fast track. With that being said  –   you will begin seeing these signs around the county soon and if you would like to pick one up for yourself just stop in at the office and we will get you one.

Anhydrous is being put on now and farmers have been and will be when the rain stops – spreading and spraying fertilizer. Several area farmers are also taking care of the wheat that is still in the fields.

I know that the sign says “Start Seeing Farmers” but what it really means is “Drive Safely” – remember that we have to share the roadways with big equipment and we want everyone to be safe.

Things have changed a lot over the past 20 years for farmers. Technology on tractors that was once a shot in the dark is now a much appreciated reality. From auto-steer to field mapping, these are making it easier for farmers to get the crops in and out of the fields.

  Marketing Myths on PORK – BEEF – POULTRY

Antibiotic free: All pork, beef and poultry is your grocery store is antibiotic free.

Gluten free: There is no gluten (a grain product) in pork, beef or poultry

GMO-free: There is no GMO in pork, beef or poultry

Hormone-Free: Added hormones are not allowed in raising pork and poultry – however, all animals have hormones but the USDA allows the label “raised without hormones” to indicate that no extra hormones were given to the animal

For those of you who ordered smoked pork loin from out Young Leaders they would like to say a big thank you. They sold over 50 loins and have close to $1,300 for their scholarships.  If you have not already applied for the Farm Bureau and the Young Leaders Scholarships either call the office at 435-3616 or stop by – applications are due on April 5th.

The TV Show “Small Town Big Deal” which airs in our area on KBSI and WDKA – FOX on Saturday 7 am and Sunday at 6 am. “Small Town Big Deal “ has added a new section to their website. If you go to www.smalltownbigdeal.com the last tab to the right is “Small Town Big Heart”.

Rodney Miller and Jann Carl are using this as a platform to help fundraise for people across the nation who have extra special needs. The first fundraising commercial was filmed right here in Franklin County to help to benefit Makanda Williams from Ewing who was diagnosed with a rare form of brain cancer known as DIPG. Some of you might know her facebook page “MakandaStrong”.

The commercials will air during the weekly shows and on their website and hopefully will help in raising funds for the people who are highlighted. We hope that this brings even more awareness to DIPG and helps to raise money for Makanda’s treatments.

The primary election is over and now the real works for those who have been put on the ballot for the general election in November.  If you think that there have been a ton of ads on TV and radio thus far – just wait. Now the real work begins for these people so expect even more mailing and even phone calls for the next 7 months.

Remember we are farmers working together. If we can help let us know.

 

Pastor Rick Warren: God says you are accepted

God Says You Are Accepted
By Rick Warren — Mar 19, 2018

The Bost Bulletin

Congressman Mike Bost’s weekly update.

Here’s the link.

Steelworkers love Congressman Bost … but won’t take him home to meet folks

U.S. Congressman Mike Bost was all smiles last week as President Trump announced a 25 percent tariff on imported steel.

 

Here’s the editorial in the Belleville News-Democrat.

Pastor Rick Warren: Working Together, We Can Accomplish More

Working Together, We Can Accomplish More
By Rick Warren — Mar 15, 2018
Benton, West Frankfort, Illinois News | Franklin County News