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The Cost of Engineering Education and Who Should Pay?

The Cost of Engineering Education and Who Should Pay?. Vishwani D. Agrawal Agere Systems, Murray Hill, New Jersey, USA and Rutgers University va@agere.com. Contents. Purpose of higher education A syllabus Cost Finance Conclusion. Purpose of Higher Education.

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The Cost of Engineering Education and Who Should Pay?

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  1. The Cost of Engineering Education and Who Should Pay? Vishwani D. Agrawal Agere Systems, Murray Hill, New Jersey, USA and Rutgers University va@agere.com Education Day

  2. Contents • Purpose of higher education • A syllabus • Cost • Finance • Conclusion Education Day

  3. Purpose of Higher Education • Most Important: Be a responsible and useful citizen. • Important: Be a self-learner and creator. • Important: Be a communicator. • Important: Be a knowledge expert. • Important: Be a problem solver. Education Day

  4. A Computer Eng. Syllabus Education Day

  5. Cost Model: Assumptions • Students on campus: 1,000 • Faculty: 100 • Support staff: 100 • Infrastructure: land, buildings, labs, 30 year financing • Operation Education Day

  6. Cost • Infrastructure: 100 sq. ft./person @ Rs. 10k/sq. ft. • Rs. 40M/year • Staff @ Rs. 500,000/person • Rs. 100M/year • Operation: Rs. 50,000/person • Rs. 60M/year • Total cost = Rs. 200M/year Education Day

  7. Per Student Cost Rs. 200M ------------- = Rs. 200,000 1,000 Education Day

  8. Finance Options • Student pays Rs. 2 lakhs annual tuition. • Student pays Rs. 2 lakhs/year from bank loan, which is paid back upon employment. • College provides tuition loan, which is paid back by student upon employment. • College runs like a publicly owned business. Education Day

  9. Conclusion • Engineering curriculum must include humanities (ethics, economics, communication skills). • Self-learning skills are most important. • High cost of standard education is justified by increased productivity. • Public-ownership model has merit; a high return on investment may be possible with highest quality of education. Education Day

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