Cost Structure of College Education

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Repro Books Limited

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491_9788183568784

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Higher education is an important form of investment in human capital. In fact it canbe regarded as a high level or a specialized form of human capital, contribution ofwhich to economic growth is very significant. It is rightly regarded as the engine ofdevelopment in the new world economy. The contribution of higher education todevelopment can be varied: it helps in the rapid industrialization of the economy byproviding manpower with professional, technical, and managerial skills. In thepresent context of transformation into knowledge societies, higher educationprovides not just educated workers, but knowledge workers to the growth of theeconomy. It creates attitudes, and makes possible attitudinal changes necessaryfor the socialization of the individuals and the modernization and overalltransformation of the societies. Most importantly, higher education helps throughteaching and research in the creation, absorption and dissemination of knowledge.Higher education also helps in the formation of a strong nation and at the sametime helps in globalization. Higher education allows people to enjoy and enhancelife of mind, offering the wider society, both cultural and political benefits. This workis an attempt to analyze the cost of college education to evaluate and guide theresource allocation decision and utilization pattern. In the context of collegeeducation, an attempt has been made to explore the broad structures of collegeeducation.

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