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The real question is: How did we get here? The problem is, as I see it, and have been clamoring about for over a decade plus now, is a matter of supply and dem
by zomg 6y ago
The real question is: How did we get here?
The problem is, as I see it, and have been clamoring about for over a decade plus now, is a matter of supply and demand.
The price of tuition is skyrocketing because the source of tuition is just a few clicks away online, in the form of a loan, generally always backed by the government.
If there's no incentive to "shop around" because you can "just get a loan" then the same can be said about a college and how they decide to price themselves. More supply of money (loans) means prices will always go UP. This is common economic sense.
To correct this imbalance, the higher education market needs more competition and that only happens if prices go DOWN, which only happens if LESS money is loaned to students from the government. This would cause tuition to go down because there would be less applicants who have a loan for tuition.
Lastly, I'd also add that it doesn't help there are many, many, many generations of young people who think that they need to go to college to be "successful". That couldn't be farther from the truth and it's shameful that society continues to push this idea.