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Why is college tuition in the USA so expensive?

After my undergrad in India, I did my MS in a public university and MBA in a private university. Here are my observations on the 3 systems.Most of the top US universities are research focused. Research is very expensive - maintaining the labs, funding the professors & their Research Assistants (RAs), Phd students -- the bill for all this lapped on poor undergrad students. I got paid $1500/month for doing my Masters and someone was picking up the tab somewhere in the system.Textbooks in the US are quite expensive. While the major publishers provide deep discounts in poor countries, they try to make up most of it in the US. A typical text costs about $150. Multiply that by the number of courses you would take.Professors are well paid [at least compared to third world countries]. Assuming that a tenured professor teaches 5 courses in a year and earns $125k, each course costs $25k. If 20 students attend that class, each student pays $1250 for just the instruction. An undergrad student might take 40 courses or more in the program (that alone costs $50,000).Overheads are very high in US universities. The lecture halls in private universities are often updated and takes a lot of resources. Academic support, administrative office, International Student Services, Career Center, sports fields are all very expensive resources that are often overbuilt.Unlike other developed countries, government support for US universities is quite low. This is especially true in case of the private institutions (Harvard, MIT, Stanford etc).Most universities are not professionally managed. Many departments are extremely expensive to maintain and the schools are loathe to cut them [a Piano class might have 1 room & instructor for 1 student] and these class have to cross-subsidized by other courses [a humanities course might not need as much resources but might cost as much]. The New York TimesHere is my research on the same topic 6 years ago: Where do US Universities spend their money?Detailed research and numbers are here: Why is college so expensive?

Who has the world's greatest CV ever?

Raghuram Rajan​Schooling :Delhi Public School ,RK PuramGraduation :IIT Delhi (B Tech),May 1985Post Graduation :IIM Ahmedabad (MBA), March 1987PhD :MIT Sloan School of Management,May 1991.Employment :-Assistant Professor of Finance,Graduate school of business,University of Chicago,July 1991-95.Professor of Finance,Graduate school of business,University of Chicag,1995-96.Bertil Danielsson Visiting Professor of Banking,Stockholm School of Economics,1996-97.Visiting Professor of Finance,Kellog School,Northwestern University,1996-97.Joseph L . Gidwits Professor of Finance, Graduate School of Business,University of Chicago,1997-2003.Fischer Black Visiting Professor,MIT Sloan School of Management,2000-01Economic Counselor and Director of Research,International Monetary Fund, 2003-2006.Chairman of the High Level Committee on Financial Sector Reforms,India,2007-2008.Economic Advisor to the Prime Minister of India (Honorary),2008-2012Chief Economic Advisor,Finance Ministry,Government of India,2012-2013.Eric J. Gleacher Distinguished service Professor of Finance,Graduate School of Business,University of Chicago,2006-2013.Governor,Reserve Bank of India,September 2013-till today.Awards and Accolades:Fischer Black Prize by the American Finance Association in 2003Fellow of the American Academy of Arts and Sciences,2009Brenhard Harms Prize,Kiel Institute for International Economics,2010Financial Times Business Book of the Year award for “How Hidden Cracks Still Threaten the World Economy” in 2010.Globan Indian of the year Award, NASSCOM,2011Infosys Prize for the Economic Science,2012Deutsche Bank Prize in Economics,Centre for Finance Studies,2013Books:Fault Lines: How Hidden Fractures Still Threaten the World Economy, published in 2010,has won the Financial Times and Goldman Sachs Business Book of the Year Award for 2010.Saving Capitalism from the Capitalists, was co-authored with fellow Chicago Booth professor Luigi Zingales and published in 2004.Publications:-The American Economic Review, Journal of Economic Perspectives, Journal of Political Economy, Journal of Financial Economics, Journal of Finance and Oxford Review of Economic Policy.The True Lessons of the Recession; The West Can’t Borrow and Spend Its Way to Recovery by Rajan in May/June 2012 Foreign AffairsSelected Extra-Curricular:BDT Capital Partners LLC, Senior Advisor (until 2012)Booz & Co., Senior Advisor (until 2012)Bank Itaú-Unibanco, International Advisory Board Member (until 2012)Comptroller General of the United States, Advisory Council Member (former)FDIC Systemic Resolution Advisory Committee, Member (former)Chicago Council on Global Affairs, Director (no renumeration)American Finance Association, President (2011)American Academy of Arts and Sciences, Member (no renumeration)Selected Research:“The Future of the IMF and the World Bank”, American Economic Review 98(2) (May 2008), 110-115.“Has Finance Made the World Riskier?”, European Financial Management 12(4) (September 2006), 499-533.“India’s Pattern of Development: What Happened, What Follows?” (with Kalpana Kochhar, Utsav Kumar, Arvind Subramanian, and Ioannis Tokatlidis), Journal of Monetary Economics 53 (February 2006), 981-1019.“Essays on Banking” PhD thesis, MIT (1991)Edit 1:-Shrikant Jichkar​20 post-graduate University Degrees to his credit.He Began as a Medical Doctor (MBBS and MD )He did his Law (LL.B.) with Post-graduation in International Law (LL.M.)He did his Masters in Business Administration (DBM and MBA) and in Journalism (B.Journ).He did his Masters in ten subjects.M.A. (Public Administration ;M.A. (Sociology) ;M.A. (Economics);M.A. (Sanskrit);M.A. (History);M.A.(English Literature);M.A. (Philosophy);M.A. (Political Science) ;M.A. (Ancient Indian History, Culture and Archaeology);M.A (Psychology).He got his D. Litt (Doctor of Letters) in Sanskrit , the highest of any Degree in a University.Most of his Degrees are with First Merit and he obtained 28 Gold Medals. Between 1972 and 1990 he has written 42 University Examinations each every summer and every winter.Dr. Shrikant Jichkar was a man of staggering academic, professional and spiritual achievement. Looking at his achievement one may be pardoned for thinking it to be incredulous."Limca Book of Records lists him as the most qualified person in India."Extra CurricularHe had one of the biggest personal libraries in India with 52,000 books.Jichkar was also an academician, painter, professional photographer, and stage actor.AdministrationIn 1978 he wrote the IPS (Indian Police Service) examination and got into it, resigned.He then wrote the prestigious IAS (Indian Administrative Services) examination in 1980 and got into it, resigned in four months to contest his first general election.Politics :-In 1980 he was elected to Maharashtra Legislative Assemble becoming the youngest MLA in the country at 25.He became a very powerful government Minister holding 14 portfolios at a time.He has been member of Maharashtra Legislative Assembly (1982–85),Maharashtra Legislative Council (1986–92)Minister of State, Government of Maharashtra.He was also a member of Rajya Sabha (1992–98)."On June 2, 2004,evening, he succumbed to death after his car, a Mitsubishi Lancer slammed into an oncoming bus at Dhamana Shivar on National Highway 6, about 40 kilometres west of Nagpur"Edit 2 :-Benjamin Bradley Bolger​Bolger is a visiting assistant professor in sociology at the College of William and Mary in Williamsburg, Virginia.Degrees :1992 — Muskegon Community College (Associate of Arts)1994 — University of Michigan, Ann Arbor (Bachelor of Arts in sociology)1997 — University of Oxford (Master of Science in sociology)1998 — University of Cambridge(Master of Philosophy in sociology and politics of modern society)2000 — Stanford University (Master of Arts in education)2001 — Columbia University (Master of Arts in politics of education)2002 — Columbia University (Master of Science in real estate development)2002 — Harvard University (Master of Design in urban planning and real estate)2004 — Brown University (Master of Arts in developmental studies)2004 — Dartmouth College (Master of Arts in liberal arts2007 — Brandeis University (Master of Arts in coexistence and conflict)2007 — Skidmore College (Master of Arts in liberal studies)2008 — Harvard University (Doctor of Design in urban planning and real estate)2014 — Ashland University (Master of Fine Arts in creative writing)He has also completed some coursework at Yale University (JD in law, 1994) and Boston College (MA in higher education, 2004).Extra CurricularBolger runs a "boutique academic consulting" business named "Bolger Strategic" in which he charges between $500 and $7,500 to assist prospective graduate students apply to graduate school.Edit 3:This should've been the first CV to be mentioned in my answer but didn't mention as it was the first answer to this question but got collapsed due to poor formatting so copying the content here to make everyone aware about Manmohan Singh.DR MANMOHAN SINGH(FORMER PRIME MINISTER OF INDIA )Academic Records :1962 D. Phil., Nuffield College, University of Oxford. Topic: India’s Export Trends and Prospects for Self-Sustained Growth. [Published by Clarendon Press, Oxford, 1964]1957 Economic Tripos [First Class honors], University of Cambridge.1954 M.A. Economics, Punjab University – First Class with first position in the University.1952 B.A. Economics (Hons.), Punjab University – Second Class with first position in the University.1950 Intermediate, Punjab University – First Class with first position in the University1948 Matriculation, Punjab University – First classPrizes and Awards2000 Conferred Annasaheb Chirmule Award by the W.LG. alias Annasaheb Chirmule Trust set up by United Western Bank Limited, Satara, Maharashtra1999 Received H.H. Kanchi Sri Paramacharya Award for Excellence from Shri R. Venkataraman, former President of India and Patron, The Centenarian Trust1999 Received H.H. Kanchi Sri Paramacharya Award for Excellence from Shri R. Venkataraman, former President of India and Patron, The Centenarian Trust1999 Fellow of the National Academy of Agricultural Sciences, New Delhi.1997 Conferred Lokmanya Tilak Award by the Tilak Smarak Trust, Pune1997 Received Justice K.S. Hegde Foundation Award for the year 19961997 Awarded Nikkei Asia prize for Regional Growth by the Nihon Keizai Shimbun Inc. (NIKKEI), publisher of Japan’s leading business daily1996 Honorary Professor, Delhi School of Economics, University of Delhi, Delhi1995 Jawaharlal Nehru Birth Centenary Award of the Indian Science Congress Association for 1994-951994 Asia-money Award, Finance Minister of the Year1994 Elected Distinguished Fellow, London School of Economics, Center for Asia Economy, Politics and Society1994 Elected Honorary Fellow, Nuffield College, University of Oxford, Oxford, U.K.1994 Honorary Fellow, All India Management Association1993 Euromoney Award, Finance Minister of the year1993 Asiamoney Award, Finance Minister of the Year1987 Padma Vibhushan Award by the President of India1986 National Fellow, National Institute of Education, N.C.E.R.T.1985 Elected President, Indian Economic Association1982 Elected as Honorary Fellow, St. John’s College, Cambridge.1982 Elected as Honorary Fellow, Indian Institute of Bankers1976 Honorary Professor, Jawaharlal Nehru University, New Delhi1957 Elected as Wrenbury Scholar, University of Cambridge, U.K.1955 Distinguished Performance at St. John’s College, CambridgeU.K. Awarded with Wright’s Prize1956 Awarded with Adam Smith Prize, University of Cambridge, U.K.1954 Uttar Chand Kapur Medal, Punjab University, for standing first in M.A. (Economics), Punjab University, Chandigarh1952 University Medal for standing First in B.A. Hon. (Economics), Panjab University, Chandigarh.Recipient of Honorary Degrees of D. Litt. from :Punjab University, ChandigarhGuru Nanak University, AmritsarDelhi University, DelhiSri Venkateswara University, TirupathiUniversity of Bologna, ItalyUniversity of Mysore, MysoreKurukshetra UniversityThapar Institute of Engineering & Technology, Patiala (D.Sc)Nagarjuna University, gunturOsmania University, HyderabadUniversity of Roorkee, Roorkee (Doctor of Social Sciences)Doctor of Laws, University of Alberta, Edmonton, CanadaDr. Bhimrao Ambedkar University (formerly Agra University) - Doctor Letters degreeIndian School of Mines, Dhanbad (Deemed University) D.Sc. (Honoris Causa)Pt. Ravishankar Shukla University, RaipurWork Experience and Other positions heldMay 22, 2004 – 2014 Prime minister of IndiaMarch 21, 1998 – May 22,2004: Leader of Opposition, Rajya Sabha (Council of States) Parliament of IndiaJune, 2001: Re-elected as member of Rajya Sabha for a term of six yearsAugust 1, 1996 - Dec 4, 1997: Chairman, Parliamentary Standing Committee in Commerce, Rajya SabhaJune 21, 1991- May 15, 1996: Finance Minister of IndiaJune, 1995: Re-elected Member of Rajya Sabha for six yearsSeptember, 1991: Elected Member of Rajya SabhaMarch 1991-June 1991: Chairman, University Grants CommissionDec 1990 – March 1991: Adviser to Prime Minister of India on Economic AffairsAugust 1987 – Nov 1990: Commissioner, South Commission Secretary GeneralJan 1985- July 1987: Dy. Chairman, Planning Commission of IndiaSept 1982 – Jan 1985: Governor, Reserve Bank of IndiaApril 1980 – Sept 1982: Member-Secretary, Planning Commission, IndiaNov.1976 – April 1980: Secretary, Ministry of Finance Dept. of Economic Affairs, Government of India Member [Finance], Atomic Energy Commission, Govt. of India Member [Finance], Space Commission, Govt. of India1972 – 1976: Chief Economic Adviser, Ministry of Finance, India1971 – 1972: Economic Adviser, Ministry of Foreign Trade, India1969 – 1971: Professor of International Trade, Delhi School of Economics, Delhi University, India1966 – 1969: UNCTAD, United Nations Secretariat, New York Chief, Financing for Trade Section 1966 : Economic Affairs Officer1957 – 1965 : Punjab University, Chandigarh1963-65 : Professor of Economics1959-63 : Reader in Economics1957-59:Senior Lecturer in EconomicsOther AssignmentsLeader of the Indian delegation to the Commonwealth Heads of Government Meeting, Cyprus (1993)Leader of the Indian delegation to the Human Rights World Conference, Vienna (1993)Governor of India on the Board of Governors of the IMF and the International Bank of Reconstruction & Development (1991-95)Appointed by Prime Minister of India as Member, Economic Advisory Council to the Prime Minister (1983- 84)Chairman, India Committee of the Indo-Japan ;Joint Study Committee (1980-83)Leader: Indian delegation to :Indo-Soviet Monitoring Group Meeting (1982)Indo-Soviet Joint Planning Group Meeting (1980-82)Aid India Consortium Meetings (1977-79)Member: Indian delegation to :South-South Consultation, New Delhi (1982)Cancun Summit on North-South Issues (1981)Aid-India Consortium Meetings, Paris (1973-79)Annual Meetings of IMF, IBRD & Commonwealth Finance Ministers (1972-79)Third Session of UNCTAD, Santiago (April-May 1972)Meetings of UNCTAD Trade & Development Board, Geneva (May 1971 – July 1972)Ministerial Meeting of Group of 77, Lima (Oct.1971)Deputy for India on IMF Committee of Twenty on International Monetary Reform (1972 – 74)Associate, Meetings of IMF Interim Committee and Joint Fund-Bank Development Committee (1976-80,1982-85)Alternate Governor for India, Board of Governors of IBRD (1976-80)Alternate Governor for India, Board of Governors of the IMF (1982-85)Alternate Governor for India, Board of Governors, Asian Development Bank, Manila (1976-80)Director, Reserve Bank of India (1976-80)Director, Industrial Development Bank of India (1976-80)Participated in Commonwealth Prime Ministers Meeting, Kingston (1975)Represented Secretary General UNCTAD at several inter-governmental meetings including:Second Session of UNCTAD, 1968Committee on Invisibles & Financing Related to Trade, Consultant to UNCTAD, ESCAPCommonwealth SecretariatMember, International OrganizationsAppointed as Member by the Secretary-General, United Nations of a Group of Eminent Persons to advise him on Financing for Development (December, 2000)PublicationsAuthor of book “India’s Export Trends and Prospects Self-Sustained for Growth” [Clarendon Press, Oxford University, 1964]Large number of articles in economic journalsSources :-http://www.braingainmag.com/a-profile-of-india-s-newest-rbi-governor.htmhttp://en.m.wikipedia.org/wiki/Raghuram_Rajanhttp://faculty.chicagobooth.edu/raghuram.rajan/vitae/CV.pdfhttps://www.ifk-cfs.de/fileadmin/downloads/dbprize/2013/Rajan_CV_for_media_Sep2013.pdfhttp://www.vedicforum.com/articles-and-research/dr-shrikant-jichkar-and-his-degrees/http://en.m.wikipedia.org/wiki/Shrikant_Jichkarhttp://en.m.wikipedia.org/wiki/Benjamin_Bolgerhttp://praneshguru.blogspot.in/2011/02/biography-of-manmohan-singh-manmohan.htmlhttp://en.m.wikipedia.org/wiki/Manmohan_Singh

Why is the head of a university called a Vice-Chancellor?

In the U.S., the head of a university is not called a Vice-Chancellor. That’s mostly from a British tradition in which the university chancellor is a ceremonial position held by a public figure of some renown (e.g., a member of the Royal Family), while the actual working executive of the institution holds the subordinate title, Vice-Chancellor.In the U.S., we do not follow that tradition. The head of a university is called a President in some states and a Chancellor in others, depending on local traditions. This is an actual executive position, not just ceremonial one. In many states in the east, including New York, the head of an institution is a President while the overall head of a public university system may be a Chancellor. The head of each campus in the State University of New York and The City University of New York systems has the title of President while the head of the system as a whole is the Chancellor. Most heads of New York’s private higher education institutions have the title of President (although Syracuse University is an exception). Subordinate officers usually are called vice-presidents. However, my impression is that, on the west coast, the reverse is true. The head of the University of California system is its President. Each campus is headed by a Chancellor. In those institutions, the staff in charge of each major divisions, e.g, academic affairs, business, student affairs, and so forth, would be vice-chancellors..

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