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It seems all the concerns boil down to economics. I don't think people did nearly as much cost-benefit analysis in the past. The fact that college was affordabl

by tootie 2y ago

It seems all the concerns boil down to economics. I don't think people did nearly as much cost-benefit analysis in the past. The fact that college was affordable meant you were freer to experiment and enjoy yourself. Now that the price is so high, it entails pressure to get your money's worth. Thus creating a vicious cycle.

ryandrake 2y ago
I'm not so sure it's a cycle. Ultimately, employers' requiring a college degree for more and more jobs is what drives the increasing demand, and the increasing demand results in increasing prices. And employers require a college degree because they need some kind of coarse selection screen, and don't seem to have any other way to distinguish capable applicants from incapable ones.
- throwaway14356 2y ago
  should increasing demand increase prices?
guccigav 2y ago
The increase in price probably comes from a combination of demand for college education and some monopolistic competition in the accredited university market, where government regulation suppresses the supply of accredited universities. I think we're seeing some change with the latter supply (e.g. community college, online degrees, etc) but demand for a U.S. college degree still stands strong on the global market from international students. It would be nice to get data on yearly university applications and do an empirical analysis on supply and demand.
- claytongulick 2y ago
  > The increase in price probably comes from a combination of demand for college education and some monopolistic competition in the accredited university market I think you're missing a big factor, rising admin spend [1]. [1] https://www.usnews.com/education/articles/one-culprit-in-rising-college-costs https://www.usnews.com/education/articles/one-culprit-in-ris...
roenxi 2y ago
Unusually, I don't think "all economics" is the right take. The political aspect of this seems to be significant. Education isn't being seen as a neutral path for people who are bettering themselves, these poll figures suggest it is a politically active institution.
s1artibartfast 2y ago
It is all of the following factors: restricted supply, price indifferent consumers, free credit, on-academic competition between colleges, high regulation, and administrative bloat. If you set these factors aside, there is no reason people couldn't get a legitimate bachelors for a few thousand dollars a year. you could literally run an engineering program using class recordings from MIT and Stanford out of a community center like AA meetings.

by tootie 2y ago

ryandrake 2y ago

I'm not so sure it's a cycle. Ultimately, employers' requiring a college degree for more and more jobs is what drives the increasing demand, and the increasing demand results in increasing prices. And employers require a college degree because they need some kind of coarse selection screen, and don't seem to have any other way to distinguish capable applicants from incapable ones.

throwaway14356 2y ago
should increasing demand increase prices?

guccigav 2y ago

The increase in price probably comes from a combination of demand for college education and some monopolistic competition in the accredited university market, where government regulation suppresses the supply of accredited universities. I think we're seeing some change with the latter supply (e.g. community college, online degrees, etc) but demand for a U.S. college degree still stands strong on the global market from international students. It would be nice to get data on yearly university applications and do an empirical analysis on supply and demand.

claytongulick 2y ago
> The increase in price probably comes from a combination of demand for college education and some monopolistic competition in the accredited university market I think you're missing a big factor, rising admin spend [1]. [1] https://www.usnews.com/education/articles/one-culprit-in-rising-college-costs https://www.usnews.com/education/articles/one-culprit-in-ris...

roenxi 2y ago

Unusually, I don't think "all economics" is the right take. The political aspect of this seems to be significant. Education isn't being seen as a neutral path for people who are bettering themselves, these poll figures suggest it is a politically active institution.

s1artibartfast 2y ago

It is all of the following factors: restricted supply, price indifferent consumers, free credit, on-academic competition between colleges, high regulation, and administrative bloat. If you set these factors aside, there is no reason people couldn't get a legitimate bachelors for a few thousand dollars a year. you could literally run an engineering program using class recordings from MIT and Stanford out of a community center like AA meetings.