Tuition for an engineering degree at the best universities in Chile is not 5k/year but closer to 7k/year. PUC is $9355, UChile is $7964, Santa Maria is $6456, USACH is $6388, U. Concepción is between $5200 and $7000 depending on the type of engineering.
It does not sound like a lot compared to the tuitions in Ivy League schools but is a lot considering average income. It is also important to remember that we are not talking about full cost of attendance but only tuition and fees. I took a look at the tuition and fees in undergraduate engineering programs in the US, Berkeley is $13,878, Caltech is $44,000 (however 91% get financial aid), Stanford $14,728, MIT is $23,200 (30% go tuition free, 56% get need-based scholarships), Carnegie Mellon is $49,610, Georgia Tech is $32,000.
Using the Household net adjusted disposable income reported by the OECD the average US household would be 2.8 times richer than a Chilean one. Given that it doesn't look that it is more expensive than the US, I agree that Chile is not the most expensive but most likely among the most expensive. On another hand, given the particular income distribution in Chile using the average salary might give a wrong idea about how affordable is higher education.
It does not sound like a lot compared to the tuitions in Ivy League schools but is a lot considering average income. It is also important to remember that we are not talking about full cost of attendance but only tuition and fees. I took a look at the tuition and fees in undergraduate engineering programs in the US, Berkeley is $13,878, Caltech is $44,000 (however 91% get financial aid), Stanford $14,728, MIT is $23,200 (30% go tuition free, 56% get need-based scholarships), Carnegie Mellon is $49,610, Georgia Tech is $32,000.
Using the Household net adjusted disposable income reported by the OECD the average US household would be 2.8 times richer than a Chilean one. Given that it doesn't look that it is more expensive than the US, I agree that Chile is not the most expensive but most likely among the most expensive. On another hand, given the particular income distribution in Chile using the average salary might give a wrong idea about how affordable is higher education.