Harvard Doesn't Compete on Cost, President Drew Faust Says

The transcript discusses the financial structure of higher education, highlighting the lack of cost competition and the importance of financial aid in making education accessible. It emphasizes the role of technology in reducing costs and the challenges of maintaining affordability. The future of higher education is explored, with a focus on attracting talent and the value of community experience in institutions like Harvard.

What is one of the main reasons higher education institutions like Harvard do not compete on cost?

• They focus on providing unique experiences and resources.

• They lack financial resources.

• They are not interested in attracting students.

• They do not offer financial aid.

How does technology aim to help in managing educational costs?

• By supplementing or replacing certain parts of instruction.

• By eliminating the need for physical campuses.

• By replacing all human instructors.

• By increasing tuition fees.

What is a significant challenge for higher education in terms of cost management?

• Increasing the number of faculty members.

• Reducing the number of students.

• Constraining costs effectively.

• Eliminating financial aid programs.

What is considered the core of a Harvard education?

• The high tuition fees.

• The community experience and learning from peers.

• The online courses offered.

• The large class sizes.

Why is attracting the best talent crucial for Harvard?

• To maintain its reputation as a leading institution.

• To increase its tuition fees.

• To reduce the number of students.

• To eliminate the need for financial aid.