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Re:A CNN Viewer Has Questions for Mike Rowe by 001sky on Saturday December 07, 2013 @05:15PM (#6867928)
Easy there...Its not in 'inverted commas' for nothing. After all, the point is that the Brits copied the US model because the 'thought they were onto something'. Also, It may help to note that the UK <had> previously a policy of charging US students 3x cost prior to the increase in fees. Which seemed like a deal only a crazy person would take.[1] But...The US/other foreign students were still paying 1/2 price vs what the US-based schools cost, hence they viewed the 3x cost as a bargain. So, the Brits might pay $5K, the US would pay $15K and the North American Uni's would charge $30K. Theat is, notwithsatnding, the US students were paying 10x in their home country for the same services. After the changes, the UK students may pay about $15-20K pa, closer to what they charged the non EU people before. And the others (non-locals) are paying double that, much closer native costs for them. And thus a no-arbitrage position.

[1] There is a long history of "fleecing" rich foreign kids at schools, where they are looked at as cash cows. This is both true in the US (where they pay 'retail' with no financial aid) and in places like the UK/EU where locals are heavily subsidized.

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