Quote:
Originally Posted by red-paladin
Perhaps an arrangement is possible like this:
40% Federal Gov't
33% Provincial Gov't
22% Metro Van / Translink
5% UBC
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Red Paladin has just posted the makings of a very good idea.
he added UBC as a prime beneficiary of a complete UBC line.
now, when the Canada Line went in, Vancouver Airport jumped at the chance to put in some money. They charged, at that time, 5, 10 and 15 dollars for each flight that left Vancouver. They paid at least 100 million to the cost. In exchange they got a RR line from downtown to the airport. When I use the YVR train on my flights, it seems that every 7th person has luggage.
Brilliant, smart and makes YVR much more valuable.
So .. let's examine the value prop for UBC. Most people think that saving 15 minutes on some travel time from Burnaby is the value prop. IT is not.
The real value prop is housing. Forget tuition, the real cost of higher EDU is housing. Burnaby is 25 to 40% cheaper than "west of Dunbar" and is probably better than the typical moldy (and Illegal) basement suite.
Let us say the student can save 400 a month by living in Burnaby. With a Millennium/Evergreen line/artery running door to door every 3 minutes for 17 hours a day, the distance is immaterial because .. I can do things on a RR system like the Canada Line that I cannot do on a rocking, noisy bus.
4 months over 1 semesters is 1,600 saving. Say 30,000 students prefer that deal. That is a saving of 48 million a semester and there are three of those every year.
150 million in student savings .. every year ... forever.
That pays a lot of interest (at 3%) ... like on 5 billion worth of debt. And the whole line from Clark to UBC is just 3.5 billion.
Red paladin has a great suggestion. Get UBC in on the pay side.... and for more than 5% ... 5% of 3.5 billion is just one years savings.
how about a campaign that entices students to voice approval by saying that cheaper housing will save them 12,800 (8 semesters times 1,600) plus accumulated interest over 4 years off their student loans.
The complete line makes great economic sense just on that one calculation.
All the stuff about less surface traffic, less pollution, etc is a bonus.
And there is one hidden social benefit. I will bet you that if combined tuition and housing costs could be reduced by the 12,800 in principal (plus interest) there would be at least one more student who would get a higher education as a result ... and not give up after high school.