During the academic 2010-2011 year, UCLA will charge undergraduates $10,000 tuition per year. Our Ivy League Peers charge roughly $40,000 per year. Consider this modest new funding model for UCLA:
1. 60% of UCLA's class will be in state students (I would want to see a residency requirement such that all 4 years of high school were spent in California). Each of these students will face a price of $9,000 a year (before financial aid).
2. 40% of the entering class will be from out of state. They will pay The Average Ivy League Tuition - 20%. (before financial aid).
According to my math; the annual revenue stream per student/year in thousands of $ = .4*32 + .6*9 = roughly 20. Note that 20 is much greater than $10 (the status quo revenue pre-financial aid ) and this is the key to fiscal solvency.
This infusion of cash would allow for better financial aid deals for deserving students and a preservation of excellence on campus. Quality is costly.
Now, I recognize that the University would be trading off more suburban out of state kids (think of New York State's Scarsdale High School --- they are under-represented on this campus) and having fewer good California students in the classroom.
From a teaching perspective, average class quality would be likely to improve as these "ivy league" imports would make the classroom a more competitive setting.
I recognize that this proposal reduces the probability of access to UCLA for some students but note that 60% of students would still be in state.
The State of California's economy would be helped because New York kids who get a taste of Los Angeles are likely to remain here rather than going back home after graduation.
There are no free lunches here. The extra financial aid will guarantee diversity and excellence on this campus.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.