https://latest.13d.com/why-has-cost-college-us-skyrocketed-debt-student-12a08596b276
Conclusion reached in the article was: “the underlying systemic cycle — higher cross-socioeconomic demand combined with federal loans triggering a recruitment spending arms race — will continue unless systemic measures are taken.”
So, essentially, a greater availability of money to finance college education plus a higher demand led to higher college costs? I wonder how much of the “demand” comes from abroad, i.e., non-American (green card or US citizens) students? Maybe at certain level of costs, the demand will drop off even at top 20 colleges.
Federal direct loan limits for undergraduates have not increased since 2008:
http://www.finaid.org/loans/historicallimits.phtml
So blaming federal direct loans for increased undergraduate costs does not look accurate. Indeed, in inflation adjusted terms, today’s frosh limit of $5,500 is no higher than the $2,500 limit from 1977-1986, or the $1,500 limit from 1967-1973.
But what may be a much bigger area of federal student loan growth involves graduate and professional programs, such as for medical and law students.
On the other hand, demand has been growing, both due to credential creep and actual increased knowledge volume for some professions where students attend college to prepare for.
If a college does not have a VP for equity and a VP for sustainability the students will complain that they don’t care. th
Irritating article both in form & content.
@Publisher Not disagreeing in any way.
But could you add some color to your view. I value your perspective.