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If government funded student loans are eliminated and as a result the demand goes down, will the price of education decrease by the same amount? If the demand i
by a257 5y ago
If government funded student loans are eliminated and as a result the demand goes down, will the price of education decrease by the same amount? If the demand is relatively inelastic, wouldn't it be the case that it wouldn't lower the price as much as expected? In other words, how elastic is the demand for education? How much of the current costs are resulting from taxpayer funded student loans?
- randcraw 5y agoIf we would support and better standardize the offerings of community colleges (as some proposed recently), we could drive down the cost of a bachelor's degree by close to 50%, even if the current rates of tuition for the last two years went unchanged. Of course, there are numerous ways to reduce the tuition cost of the last two years too. I'd love to see the same standards established by community and junior colleges be extended to advanced courses as well as making those courses available online. The final degree could be granted by a the authority who governs the standards, like Britain's Open University. But there should be many alternative ways to do this well, to provide a technical education, a artistic or literate one, or simply help folks retrain as their careers evolve. We just need to quit making excuses and stop this merry-go-round to nowheresville NOW, before any more damage is done by the anticompetitive kleptocracy AKA the US university system.