Email to ST - Fees Hike

I read this article in the local newspaper asking for replies to the recent fees hike in the local universities. I was inspired to write a reply. BUT I have not sent it in yet.

This is what I wrote:

I understand that the fee hike is required for the universities to
provide a better education for the students. However, the universities
should consider exempting all current students from the fees hike. By
increasing the fees of all students (current and prospective), the
current students might feel that they are being 'cheated'. The
university fees that the students accepted before entering the
university should remain unchanged throughout his education. The price
for the service was agreed upon at the beginning of the contract and
it should follow that the price should not increase midway in the
contract.

For example, a home owner decides to engage a contractor to renovate
his house. They agree upon a payment of $5650. However, after the
renovation is completed, the contractor decides to ask for a payment
increase. The contractor wants a 15 percent increase or a payment of
$6500. Wouldn't the home owner feel cheated? (This is the concept of
Loss Aversion, where the person would rather avoid losses than making
gains.)

The universities should only apply the fee increases to prospective
students. As they have not invested their time and effort in the
institution, they can choose whether they want to pay the higher
school fees. The current students do not have a choice as they have
already invested in the institution and cannot withdraw easily. The
local varsities should examine the fee policy of their Australian
counterpart, for example the University of Melbourne, where fee
increases only apply to new students.

I urge that the local universities to reconsider their fee policy.
__________

So any opinions or comments?