Archive for November 1st, 2011

The cost of college …

November 1, 2011

Given the uproar from the Occupiers and Campaigner-in-Chief, I got curious about the facts re: college tuitions.

According to the College Board. here’s what it really costs to attend college:

  • Public two-year colleges charge, on average, $2,713 per year in tuition and fees.
  • Public four-year colleges charge, on average, $7,605 per year in tuition and fees for in-state students.
  • Public four-year colleges charge, on average, $19,595 per year in tuition and fees for out-of-state students.
  • Private nonprofit four-year colleges charge, on average, $27,293 per year in tuition and fees.

The College Board adds: “Keep in mind that — due to grants and other forms of financial aid — the actual price the average undergraduate pays for a college education is considerably lower than the published tuition and fees.”

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For the record, Georgetown University charges undergrads $40,920 per year in tuition … and about $10,000 in room, board and miscellaneous charges … MBAs pay a couple of bucks short of $50,000 — just for tuition.

Ouch !

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Innovate by Spending Less on R&D … huh?

November 1, 2011

TakeAway: Companies that spend more on R&D are rated less innovative than other companies that spread spending across divisions to grow innovation.

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Excerpt from WSJ: “Top ‘Innovators’ Rank Low in R&D Spending”

A report by consulting firm Booz & Co., says that few of the biggest R&D spenders crack the top 10 in terms of being considered “innovative” by their peers.

The most frequent pick for innovative was Apple — the 70th biggest research-and-development spender— followed by Google and 3M, also not among the top-20 spenders.

Health-care companies held four of the five top-spender spots, but none made the top 10 in terms of being deemed innovative.

Pfizer, which ranked second for R&D spending in the study and 16th for innovation, has for the past few years tried to spur creativity by inviting researchers to attend commercial meetings and encouraging employees on the commercial side to attend scientific reviews. The company also plans to cut its R&D budget, currently over $8 billion, to as low as $6.5 billion as it focuses on fewer, targeted disease areas.

3M, which spends relatively little money on its research and development, landing at number 86 on Booz’s spending list, allows employees to spend 15% of their time exploring side projects. It also offers seed “grants” to encourage innovation.

Edit by ARK

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