Can we "expense" the Education?

Two interesting stories...

Citing tough financial times, Northwestern University's president today said that the institution will reduce operating expenses and bump up tuition. In a letter to alumni, faculty and administration, President Henry Bienen wrote that the university's endowment was $5.6 billion, down 24 percent from the high point of $7.4 billion last year, and that changes would be needed to weather the current worldwide economic predicament.Despite the university's overall financial strength, he wrote, "there will ... be a need for sacrifices."
Undergraduate tuition, room and board for the 2009-10 school year will grow 3.6 percent to $49,791, but it will be the smallest percentage increase in more than 40 years, the letter said.

An Option to Save $40,000: Squeeze College Into 3 Years. Here’s one way of cutting college costs: get a degree in three years, instead of four. This fall, Hartwick College, a small liberal arts college in Oneonta, N.Y., will offer students the option of doing just that, at a savings of more than $40,000. In the college’s three-year degree program, students will complete the standard 120 credits, taking 18 credits in the fall, 4 in a January term and 18 in the spring. Students will be able to keep their summers free for internships or jobs. Whether for a three-year degree or a four-year one, Hartwick’s tuition next year will be $32,550, 3.9 percent higher than the current year. Room and board will be about $9,000.