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There's a presumption, I think, in this scheme that if loans for art majors are less available or attractive, the cost of an art degree will decrease. In which
by st26 8y ago
There's a presumption, I think, in this scheme that if loans for art majors are less available or attractive, the cost of an art degree will decrease. In which case you'd reach some equilibrium where the loans are not very good, but the cost is not very high, and people would still get art degrees.
- greedo 8y agoWouldn't sunk costs for a university make it difficult to charge based on major? All the fixed infrastructure and overhead would be the same. So you would end up with high cost for loans, plus significant costs for delivery; I think most colleges and universities would cut back on art majors etc.
- st26 8y agoWith the rate tuition has risen (e.g. it rose 30% every year I was in college) it seems clear it's decoupled from the fixed costs & overhead.