New York University recommended faster time to graduate as a way to save on education cost. In a meeting on February 18, it was suggested that reducing the number of years to complete a course is one best way of reducing costs.
New York University is one of the most expensive universities in the United States. Tuition fees amount to $66,000 per year inclusive of room, board, tuition fees and other expenses. This is higher than most schools within New York City. If the amount is reduced by 20 to 25 percent per student, one can just imagine the amount that could be saved per year. The school is now finding ways and means for students to graduate in less than four years, according to New York Times.
In fact, several students had been ahead when it came to using this strategy of cost cutting. At New York University, around 20 percent of the students had graduated a year or a term ahead of their scheduled graduation. This means around $33,000 to $66,000 of savings.
Excellent preparation for medical school was also considered as one way of reducing years spent in school. Students can start their residency sooner than in the past years. This means students and parents save a lot of money intended for tuition fees. Medical school is expensive but by reducing number of years to complete it, it would be a little bit affordable for many, according to MSU Today.
For other courses, adding subjects in high school that could be credited in college would let students graduate faster. This might reduce the time spent for college by one year.
In some high schools, students were encouraged to take vocational and short term courses. Students could get a certificate after six months to two years of learning a specialized skill.
New York University students may adopt other strategies to reduce number of years to finish a course. This would reduce the amount representing education costs.
