A Mere 900% Tuition Hike Isn’t Such a Big Deal…Is It?
If you are in university or college right now, imagine if your school told you that the tuition rates were going to increase by 25%. You would probably be fairly shocked and rather annoyed, opting to protest such a hike instead of stand passively by. That kind of an increase would have people up in arms, but imagine if it was higher…much higher.
The students at McGill University in Quebec were shocked when it was announced this past week that the tuition rate for the university’s MBA programme would increase by a staggering 900%. Tuition rates for the programme have increased from $1,673 per semester to a whopping $14,750. If we simply do the math here, that means that the former cost of the 2-year MBA programme was $6,692 and, now, a shiny new MBA degree from McGill University can be yours for the low cost of only $59,000.
It’s been reported that, upon learning of the reasons behind the tuition hike, many of the university’s students support the increase in the programmes tuition, as they view it as a means for privatisation of their education, allowing for a higher quality of education. While I do believe that private education may, indeed, allow for a better quality of training and information, I do not believe that it warrants a 900% increase. I mean, how many people are going to be able to afford that kind of price tag? The university claims that the increase is imperative in order for them to remain competitive with other universities offering the same programme.
Due to its unprecedented tuition elevation, McGill is being fined by the province of Quebec for (currently) an undisclosed amount, and rightly so, I think. The province has always tried to maintain a low tuition rate for its students, but this sudden decision by McGill seems to have altered the province’s reputation. To their defence, McGill has stated that they decided to privatise their business schooling programme simply to compete with other programmes from rival universities, such as University of Toronto’s Rotman School of Business, or the University of Western Ontario’s Ivey School of Business.
Although their actions may have been filled with good intentions, McGill must now brace themselves for a [hopefully rather significant] fine from the province of Quebec. Even so, based on the money they’ll be raking in from their MBA programme, I don’t think they’re too worried about it.
Perhaps the province should just show them the amount of the fine, and then increase it by 900%…
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Tags: College, Degree, Education, Master of Business Administration, MBA, McGill University, Quebec, school, tuition, tuition hike, Univeristy