|IDEA BY:||Joshua Goldman||LOCATION:||Canada||CATEGORY:||Education|
|IDEA BY:||Joshua Goldman|
To understand the feeling of the tuition crisis, it's useful to see some data from 42 years ago (numbers are adjusted for inflation). In 1974, the average American family made 62,000$ a year. A new home costed 174,000$, and an average new car costed 21,300$. Attending private university costed a measly 10,300$, and, 2,500$ for public. Nowadays, the average family income has risen slightly to 64,000$, while home prices have increased, car prices are relatively the same. But the real outlier is higher education. Tuition at a higher university is now roughly three times as expensive, costing an average of 31,000$; public tuition at 9,000$ has risen to nearly four times as much. For the average American family, higher education is simply out of reach. My idea is a website which gives students a small bit of money to put toward their higher education for every test they score over a certain percent; students can either show us evidence they scored a certain percent on their test, or schools can signup for our site, and post students scores. Although it would only be a small amount for each test, over the duration of high school, students take hundreds of tests, so eventually it would add up. Now in order to create the money we would give to the students to pay for higher education, we would require the students to study with our technology. The studying technology would generate notes from textbook pages, generate review questions, and even plan out a study schedule. In the language of economics, education funding is an investment; it always pays itself back.