CHANCELLOR | Any Person, Not Every Person

When the Supreme Court decided Biden v. Nebraska, which declared President Biden’s loan forgiveness program unconstitutional, I am sure it was to the frustration of many around the nation and especially here at Cornell that loans are expected to be repaid. While borrowers groan at their financial constraints, there are few who ask why they have these loans at all. Yes, an obvious answer may be that they cannot afford to pay $88,150 a year, the cost of a Cornell degree. But that only answers the surface level question; it does not address why one needs a Cornell degree, or any degree for that matter. The deeper question being proposed is what the purpose of a university is. 

What is the Real Cost of a Cornell Education?

Why did Cornell choose to raise tuition at a time when many are experiencing stiff financial hardship; why is the University’s financial aid lower than all of its Ivy League peers? Amid concerns about the true value of a college degree in the era of “Zoom University,” School of Industrial and Labor Relations Prof. Ronald Ehrenberg, who studies how institutions of higher education operate, explained the nuances behind some of these questions.