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Many generations before now either had access to very low or free tuitions from public universities, or fairly low tuitions (relative to future earnings) for pr
by dv_dt 10y ago
Many generations before now either had access to very low or free tuitions from public universities, or fairly low tuitions (relative to future earnings) for private schools. Society subsidized those costs because it was an excellent investment on future economic growth.
Somehow we got twisted into this track of thought that everything must be individually accounted, and student became individually loaded with the debt of their education. And because students as a group are in a poor bargaining position for tuitions - the inflation of education costs skyrocketed. I think they are the only life cost that gives healthcare a run for it's money in it's ability to exceed (by multiples) both the growth in the economy, let alone the growth in personal incomes. This cannot continue.
Plans to give student aid to income below a certain threshold will only serve to further cause tuition inflation. It is a case where individual allocation of cost/debts is much less efficient and harmful to our economy than social allocation of the cost. I think we need to go back to funding public universities out of direct state and federal budgets so that public institutions can offer low or no tuitions. This way, gov't organizations with the budget leverage, with much better visibility and oversight can keep costs down at public universities. Low public university costs will also help cap the excesses of private tuitions via market competition.
Unwinding the current mess of student debt is also a huge issue, but should be undertaken too (but I'll leave that to some other time...)
- karma_vaccum123 10y agoIt really requires a rethinking of the need for college, how college should work, and how it should be paid for. Most undergraduates have no real need to obtain a gold-plated degree. Undergraduate education in nearly all fields is well-understood and can be delivered adequately at low cost. This is why foreign countries that aren't wealthy still produce excellent undergrads. Only in the US do we believe you really can't get educated unless you went to an expensive and/or elite school.