3 ms·
College was dirt cheap before student loans became non-dischargeable and the government started backing them.
by chrischattin 7y ago
College was dirt cheap before student loans became non-dischargeable and the government started backing them.
- fzeroracer 7y agoCollege was also dirt cheap in an entirely different era where people could earn a living even with menial labour and where the average purchasing power was higher. Trying to correlate the two and say it's because of government loans is just plain ignorant. Or are government loans also to explain why people can't save money, or afford rent, or survive off of a single 40h job etc.
- tzs 7y agoI looked for tuition costs over time, but didn't find much online. I did find Stanford tuition data going back about 100 years. Here's a graph of the log of Stanford tuition over time [1]. The log of tuition has grown pretty much linearly. There doesn't seem to be much difference between how it grew before government backed loans and after them. Somewhere I've got a spreadsheet where I compared the growth rate to the inflation rate. I can't find that right now, but if I remember correctly the tuition growth rate was about twice the inflation rate. It would be interesting to get this kind of data for a variety of schools, but I couldn't find it. [1] https://imgur.com/fXnjDNn https://imgur.com/fXnjDNn