5 ms·
I've got some news for the author of this article. University cost inflation started well before 1993. The chart here (https://www.edvisors.com/plan-for-colle
by eatmyshorts 6y ago
I've got some news for the author of this article. University cost inflation started well before 1993. The chart here (https://www.edvisors.com/plan-for-college/saving-for-college/tuition-inflation/ https://www.edvisors.com/plan-for-college/saving-for-college...) shows that the divergence in university cost inflation and the greater economy's inflation started in the early 1980s. I know that my university education went up 4x in the 5 years (yes, 400% in 5 years, which equates to 32% CAGR) that I attended college, and that predates this 1993 date in the article.
- JJMcJ 6y agoA number of things have lead to this. * Student loans detaching cost from time of service, similar to insurance and medicine * Diminishing support for public colleges. In California UC and CSU schools were essentially free to Cal redidents until mid 60s. * Metastatic administrations, partly for compliance and partly because the money is there. It sure isn't going to faculty.
- eatmyshorts 6y agoTake a look at overhead costs as a percentage of the total budget for universities. You'll see that administrative costs have ballooned, while the size of faculty and student bodies have remained relatively constant. That certainly was the case at my university. Here's another article about the issue: https://www.forbes.com/sites/carolinesimon/2017/09/05/bureaucrats-and-buildings-the-case-for-why-college-is-so-expensive/#5b2adc04456a https://www.forbes.com/sites/carolinesimon/2017/09/05/bureau...