Tuition Free College Education

NYU medical school has gone tuition-free for all medical students. https://www.forbes.com/sites/susanadams/2018/08/16/nyu-makes-medical-school-tuition-free/#111b3567a9d8

Five countries have tuition-free university degrees. It can be accomplished. https://www.investopedia.com/articles/personal-finance/080616/6-countries-virtually-free-college-tuition.asp

What would it take for a USA university to do away with tuition for business students? A large endowment would help. NYU Medical School’s endowment is $600 million to offset the former $55,000 per year tuition. There are approximately 700 students in the NYU Medical School. Instate tuition at Oklahoma State University is $9,018 per year. With approximately 4,000 students, OSU would need an endowment of approximately $575 million to give the 4,000 students free tuition. There are ways to lower the size of the required funding.

One obvious way is to lower costs. When the university has more than three times the number of administrators and staff as teaching faculty, there is obviously room to reduce the overhead.

Another way to reduce the required endowment is to revise the curriculum and reduce the hours needed to get a degree. Do business school students need 24 credit hours of general education that includes six hours of history and government, six hours of humanities, six hours of natural sciences, three hours of social and behavioral sciences, and three hours of diversity classes. Eliminating these would reduce the number of required endowment by 20% or $115 Million. Would the business students be as prepared to work in the USA business world? I think so.