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$10K Isn't too far off from what tuition for my EE degree cost in the late 80's. Even adjusted for real inflation it shouldn't be a penny more than $20K, possi
by OldSchool 13y ago
$10K Isn't too far off from what tuition for my EE degree cost in the late 80's. Even adjusted for real inflation it shouldn't be a penny more than $20K, possibly as low as about $15K today. That was of course at a state school.
The somewhat counter-intuitive answer is that easy money has increased the price of education, in this case easy borrowing.
The same phenomenon is responsible for almost all bubbles in modern history. Interest rates dropped and qualification criteria got loose and house prices tripled in some areas, also rising in almost all. VC's got sloppy and we had the dot-com bubble.
The serious problem facing America today is that easy money is already flowing yet this bubble is also called "barely getting by as a nation."
- jseliger 13y agoThe somewhat counter-intuitive answer is that easy money has increased the price of education, in this case easy borrowing. Based on my reading of Archibald and Feldman's book Why Does College Cost So Much?, that doesn't seem to be the case: their data show that Baumol's Cost Disease is the real culprit.
- ImprovedSilence 13y agoEven the price of state schools vary wildly these days. I graduated from a large state school in 07. In-state tuition there is now double from when I was enrolled. DOUBLE. In five years.