Any ideas?
With the cost college education massively outpacing inflation over the past several decades, it’s got to stop sooner or later. Unfortunately, probably not for some time still.
There are a lot of people taking out loans upon loans to go to school right now. Other people who have recently lost their jobs are returning to school to get a “better” degree in grad school etc. Most people in this country have bought into the great lie that a college degree is necessary, and what has turned in to an even greater lie: that it’s worthwhile.
I found this article at MSNmoney a few months ago, claiming that “college degrees bring higher income, but at today’s cost they can’t make up the savings they consume and the debt they add early in the life of a typical student.” There are a lot of assumptions in this argument, of course the largest of which is the assumption that an “average” HS grad and an “average” college grad could be found to behave similarly with respect to personal finances. If that holds true, then “saving early” beats the higher income afforded by the degree.
Grants and Loans have increased very quickly too. At this rate, college tuition rates will collapse when the welfare state does.