A guest post by Jim Farmer at Michael Feldstein's blog provides information about Professor Vance Fried's pro forma business plan for a residential undergraduate college. "The results yield an annual full cost of instruction of $7,376-60% less than current baccalaureate and 50% less than masters institutions." Farmer identifies many of the things that Fried does not include in his fantasy college, and says "the discussion may quantify the extent of cross-subsidization of subjects such as the arts and classics, the research results of the teaching faculty, and service to the community-all omitted in Fried's model." -BD
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