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Why is college so expensive? Charging U explores the causes of high college tuition. If you want to know where all your money is going and why college costs so much more now than it did in the past, join host Larry Bernstein as he looks at how individual pricing, government policy, rankings, endowments, loans, luxurious amenities, administrative bloat, athletics, research, and other factors affect the price we pay for college.
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The marketing business is like an iceberg. What the public experiences in a :30 second spot on television or online is the tip of the iceberg. So too is the piece of positive publicity about a company or product that someone reads or the piece of persuasive content that lands in their computer or phone. All just the tip of the iceberg. What’s below the proverbial tip is what this podcast is all about. It’s about the people behind the ideas and the effort that it takes to conceive and produce ...
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Send us a text As they say, it's a wrap! Season One of Kansas City Marketing Legends is in the books. We are extremely grateful to all of you who have listened to our conversations with the legends of Season One and look forward to offering up more legends when we launch Season Two in early 2025. This final episode of our first season gives us a ch…
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Becky Blades // Blades & Associates
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Send us a text Becky Blades is the ultimate startist. Her second book is titled Start More Than You Can Finish. That certainly describes Becky to a tee. As you will hear into this episode of Kansas City Marketing Legends, Becky not only started a lot of things, but she finished a few as well. And how well she did finish. But as you will hear, after…
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Send us a text So, three ad guys are sitting around in one of their homes one summer talking about how to create a new approach in the marketing business. No this is not the start of a joke. It’s exactly how the world’s largest agency was born right here in Kansas City. Scott McCormick and his founding partners, John Valentine, and Craig Ligabel, l…
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Send us a text Pasquale Trozzolo, without a doubt, founded one of our city’s premier agencies. Trozzolo Communications Group is an exemplary example of a family business. It also is a company that has recognized over the years how to grow through smart acquisitions and how to keep the principals of those they acquired to stay involved. On this epis…
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Send us a text What’s it like to have your dad be your boss? Well, our guest today on Marketing Legends of Kansas City can tell us. Andy Fletcher worked for his dad at Fletcher Mayo and learned a thing or two there about the marketing business, especially in the agriculture arena. But Andy has stories to tell us as he became in his words, a nomad i…
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Send us a text Chances are more than a few of you have Landa Williams to thank for a job or for an employee hire in a Kansas City agency or company. And even if you didn’t, you absolutely know a few people who did. LandaJob is her company’s name, and she will tell us how that came about on this edition of the Marketing Legends of Kansas City. Plus,…
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Larry Wheeler // Boasberg Wheeler
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Send us a text There can be no dispute that Ewing Kaufmann is one of the most impactful and influential business leaders in Kansas City history. In this episode of Kansas City Marketing legends, we hear from one of our own legends what it was like to work for Mr. K. at Marion Labs and the business lessons he learned that helped him run his own publ…
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Send us a text Bill Fromm was a born entrepreneur. He ran a dry-cleaning delivery service in college and his dream was to come back to Kansas City and start an advertising agency. He made that dream come true and opened the doors of his agency on June 1, 1964. Today that agency is Barkley, and it is one of the leading independent agencies in the co…
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Whitey Kuhn // Kuhn & Wittenborn
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1:05:56
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Send us a text Hallmark is not just one of Kansas City’s most revered companies, but it has also contributed to the overall growth of the creative community in the city. One of the best examples of that is the partnership that developed between Whitey Kuhn and the late Dale Wittenborn. The two met while working at Hallmark and then one day they sta…
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Bob Bernstein // Bernstein-Rein
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Send us a text Listeners to the Marketing Legends of Kansas City may find it hard to believe that there was a time when a handshake was all that was needed to create a decades long partnership between a global retailer and an ad agency in Kansas City. But that’s one story that our guest today can tell. Bob Bernstein started his agency in 1964. The …
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Send us a text Kansas City has a rich and colorful history when it comes to our Marketing, Advertising and Public Relations community. We talked for a while about how to start capturing the stories. We quickly decided we did not want to write a book, so we landed on an even better idea – let’s start a podcast! Our idea is simple. Let’s reach out to…
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Send us a text The underlying cause of the high cost of college is an inability to objectively demonstrate quality or the value added by a college. Currently, college rankings are determined by the amount of money they have and spend. Those with more prestige are able to charge higher tuition. Higher education institutions need to be incentivized t…
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Send us a text The high cost of college prevents many from attending or causes others to go into debt at an early age and delay life plans. Why does college cost so much? Because there is no objective measure of quality, prestige is determined by how much money a college has and spends. Individual pricing by private colleges allows them to charge e…
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Send us a text Purdue University has frozen tuition for the last 13 years while improving its reputation. This has saved students $6,000 per year, reduced the amount of debt, and improved graduation rates. How did it do it and why don’t other universities do the same? Theme music: Sunshine by lemonmusicstudio via Pixabay…
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Send us a text The priorities of boards of trustees, administrators , and faculty are often different from those of the students. Those students are paying into a system which directs funds into activities that do not align with their interests. They do not have the ability to opt out of services they do not wish to receive and those looking to ent…
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Send us a text Wealth inequality among universities enables the rich to get richer. The design of college endowments limits the extent to which they can be used to reduce tuition for everyone. Theme music credit: Sunshine by lemonmusicstudio via PixabayDi Larry Bernstein
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Send us a text Climbing walls and lazy river pools are conspicuous and attract much attention but add relatively little to the cost of attendance. On the other hand, colleges have been raising the prices they charge for housing at a rate much higher than inflation. The building boom on campuses has expanded space greater than the increase in studen…
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Send us a text Federal regulations and reporting requirements of colleges have grown in recent years forcing them to hire non-instructional staff to comply. But this only accounts for a small part of the amount spent on administration. Colleges have expanded their scope beyond the core missions of education and research. They are now more involved …
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Send us a text Institutional support of sponsored research has grown at twice the rate of inflation for over 60 years and is an overlooked cause of high tuition. The annual expense of unsponsored research is many thousands of dollars per student and may be an even larger contributor to rising costs. This National Science Foundation website https://…
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7. Do Professors' Salaries and Baumol (Service) Cost Disease Explain Why College Costs So Much?
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Send us a text Service fields such as higher education do not experience large improvements in efficiency so the cost of providing that service rises. The salaries of professors may contribute a minor amount to the rising cost of college; however, reduced teaching loads and other perks are more important factors which cause the price of tuition to …
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Send us a text All intercollegiate athletic programs lose money, except for a few at universities with successful football programs Students are charged up to several thousand dollars per year to make up the deficit. Compliance with Title IX also adds to the cost. Websites mentioned in this episode: Office of Postsecondary Education website under E…
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Send us a text Influential rankings are based on the wealth of an institution, not how much students learn. This incentivizes colleges to maximize income in order to remain competitive. Theme music credit: Sunshine by lemonstudiomusic via PixabayDi Larry Bernstein
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Send us a text Government grants, easy access to subsidized loans, and tax breaks have made more money available to students, but somehow, students are even more overwhelmed with the burden of paying for college. Theme music credit: Sunshine by lemonmusicstudio via PixabayDi Larry Bernstein
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Send us a text In this episode, we examine public colleges and universities and discuss: The high variability in higher education funding between states. How state appropriations dropped during the decade of the 2000s causing public colleges to make up for the shortfall by raising tuition. How the decrease in state appropriations explains only a pa…
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Send us a text Once upon a time, Americans had access to affordable higher education and could pay for it by working while in college. This promoted social mobility. Over the last few decades, costs have risen dramatically causing current students to drown in student debt, alter life decisions, or forgo college altogether. In this episode, we intro…
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Send us a text In this episode, we discuss: Individual pricing, the most important factor contributing to the rise of tuition sticker price at private colleges and universities. The effect of economic surplus, market segmentation, and enrollment management in setting a price to extract the maximum amount of current and future wealth from a student …
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