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The Comforts of a Mediocre Education

It’s no secret that many colleges and prep schools are in financial trouble. Accrediting organizations predict a significant number of institutional failures in the next decade. We even feel the pain here in Vermont but, understandably, no one wants to discuss it, as any faint whiff of distress further discourages applications. The college value equation has been eroding for decades. Total private college costs average $45,000 annually, $20,000 at in-state colleges. Accounting for payments, discounts and scholarships, average college graduates carry $37,000 worth of debt. And in return, according to the Programme for International Student Assessment (PISA) to which the U.S. subscribes, we rank thirtieth in math and nineteenth in science among the thirty-five sponsoring countries. Access to a free …
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