As private higher education makes inroads in Britain, lawmakers should look to the United States for lessons on shaping how the industry will grow and evolve, a new report says.
Private colleges spent an amount equivalent to about 37 percent of all of their tuition and fee revenue on scholarships for students in the fall of 2010, an all-time high, according to an annual "tuition discounting" survey. The estimated tuition-discount rate for first-time freshmen—42.4 percent—was also a record high, according to a report on the survey by the National Association of College and University Business Officers.
For the next 20 years, Matt Foist will be paying off his $46,000 in cooking-school loans, and all he says he has to show for it is a useless chef's diploma, a nice set of knives - but no job.